We can't see your tax return to know why TurboTax is only deducting a partial solar credit, however there are times when you can't take the full credit in the current year.
- Review your Form 5695 to see how your credit was applied and/or limited.
- You may be getting other tax credits that have reduced your tax.
If your credit can be carried forward to next year, we'll do that for you.
Under the Residential Energy Efficient Property Credit, you can get a federal tax credit for installing alternative energy equipment, such as solar electric property, solar water heaters, geothermal heat pumps, small wind turbines, and fuel cell property.
If you made energy efficient improvements to your home like energy-saving roofs, windows, skylights, and doors, you'll be able to claim the Nonbusiness Energy Property Credit for 10% of amounts paid for qualified energy efficiency improvements, up to a lifetime cap of $500 or fixed dollar amounts ranging from $50 to $300 for energy efficient property, including furnaces, boilers, biomass stoves, heat pumps, water heaters, central air conditioners, and circulating fans.
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