- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
The instructions for Form 5695 say “Costs are treated as being paid when the original installation of the item is completed,” so you can claim all the costs for your installation no matter when they were paid, but you have to wait to claim them in the year the installation takes place. Be sure to keep your receipts handy!!
Since the installation is completed in 2022, you will claim the full amount of this credit on your 2022 tax return because you can only claim this credit once for this particular solar panel installation.
{Edited 12/16/22} 1:36 PM PST} @gtoph
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
January 20, 2023
8:32 AM
793 Views