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Energy Storage Credit for solar batteries 60%, is this an error in TT Form5695 calculations?
As I was going through the step-step, it asked if I had any installed battery technology which I did and also indicated it was installed at home. I always have read that the credit was 30%, but to my surprise upon reviewing Form 5695 2023 generated, I see 30% applied twice, ie a total of 60% credit?
To be more specific, I answered to 5a Yes, then entered the amount in 5b $12000, then follow the instructions, line 6b (12000 x .30=$3600).
Then in line 8 it said qualified fuel cell property, I entered $12000, line 9 (12000x.3=3600), then line 10 (10kwx1000=10000, entered the smaller $3600 in line 11, then finally, then line 13 asked me to add line 6b and 11 = $7200
‎April 8, 2024
8:06 AM