Get your taxes done using TurboTax

Yes, you are required to report ALL income unless specifically exempted by the Internal Revenue Code.  Income from solar panels isn't exempted.

That type of income is not subject to self-employment tax, so it goes on line 21, Form 1040. 

To enter it: 

  1. Go to Income

  2. Select I'll choose what I work on

  3. On Your 2016 Income Summary, scroll down to Less Common Income

  4. Click Start or Update by Miscellaneous Income, 1099-A, 1099-C. 

  5. Click Start or Update by Other Reportable Income

  6.  Enter the Description and Amount on Other Taxable Income

The amount should show up on line 21 of your Form 1040.  To check, 

  1. Go to My Account

  2. Go to Tools

  3. Go to View Tax Summary

  4. Go to Preview my 1040

 

 


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