A Solar Energy Tax credit is a nonrefundable credit. To claim a 30% credit, the solar PV system must have been installed before December 31, 2019. The credit decreases to 26% for systems installed between January 1, 2020 and December 31, 2022, and to 22% for systems installed in 2023. Unless Congress renews it, the credit expires in 2023.
Note: To claim the Solar Energy Federal Tax credit, you need to complete and attach the IRS Form 5695 to your federal tax return. For info on where to enter qualified energy-saving improvements, go here. @sgt3030
TurboTax will calculate the credit and put it on Form 5695 when you claim the credit. To see all of the qualifications for the Solar Tax Credit, see this FAQ.
Form 5695 (Residential Energy Credits) is used to calculate tax credits for energy efficient improvements and alternative energy equipment. To add or remove this form:
- Open (continue) your return if you don't already have it open.
- Inside TurboTax, search for this exact phrase including the comma and spaces: 5695, residential energy credit
- Select the Jump to link in your search results.
- At the bottom of the Energy-Saving Home Improvements screen, answer Yes, then select Continue.
- To delete the 5695, answer No, select Continue, and then answer Yes on the following screen to confirm the deletion.
- Follow the instructions to enter your energy-saving improvement costs.
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