JotikaT2
Employee Tax Expert

After you file

The home energy credit can only be used to offset the total tax liability on your tax return.  If you did not have any tax shown on Form 1040, line 24, then the credit can be carried forward since it is not a refundable credit.  That means any remaining credits not used on your 2023 income tax return will be carried forward to your 2024 tax return and can be used to offset your total tax.

 

I recommend reviewing your return to ensure the residential energy credit was included.  Your 2023 tax return should have Form 5695 included.  This form is used to generate the credit. The amounts on line 15 represents the amount of the credit taken in the current year, and the amount on line 16 is the overall credit being carried forward to 2024. 

 

If you determine the residential energy credits were not entered into your return, you should file an amended return to ensure they are included.

 

Please follow the steps here to enter your credits if you determine you do need to amend.

 

@Chareynna 

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