topic Home Energy Credit in After you file

Home Energy Credit

chance97 — Mon, 22 Mar 2021 01:33:10 GMT

How/when do I receive the $6778 for my solar energy credit? I have received my tax refund of $989.

Re: Home Energy Credit

SundayInSalem — Mon, 22 Mar 2021 04:37:47 GMT

The federal residential energy credit is not refundable. That means, it can lower your tax liability to $0 so you get back all your tax withholding, but you don't get the rest. It's moved forward into the next year.

The IRS says, "The residential energy property credit is nonrefundable. A nonrefundable tax credit allows taxpayers to lower their tax liability to zero, but not below zero." See: Energy Incentives for Individuals: Residential Property Updated Questions and Answers

Re: Home Energy Credit

AnnetteB6 — Mon, 22 Mar 2021 15:56:37 GMT

The information for claiming the Federal Residential Energy Credit should have been entered as part of your tax return. As stated by user SundayInSalem, the credit is not refundable but can be carried forward to a future tax return if not used in full on your current year tax return. TurboTax will keep track of this for you when you file your 2021 tax return.

You will not receive a separate check for the amount of your energy credit. It was incorporated into your tax refund or carried forward.

@chance97