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Form 5695
I installed a solar system in 2019 for $60783. It is on a 5-year depreciation schedule. I have $18,235 carry forward of tax credit. I owe taxes this year so want to use it. When I fill out form 5695, I only get $1,118 credit. Either I entered something wrong, or I'm totally confused about being able th use the carryforward to decrease my tax liability. Thanks much.
March 16, 2022
9:15 AM