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Deductions & credits
Yes, The residential energy credit (form 5695) allows you to deduct 26% (30% in 2019) of the cost of installing solar energy system from your federal taxes. It is non-refundable and is used to lower your tax liability, If zero tax, credit will be carryforward to the next year/s.
The form may not be updated in Turbo Tax yet or not finalized by the IRS.
‎February 8, 2021
6:26 PM