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sakins3
New Member

Solar Refund not calculating correctly

I do not think that the calculation for the solar credit is correctly working. I think it is calculating the overall expensive at 26% and it should be at 30%. Can anyone verify this?

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2 Replies

Solar Refund not calculating correctly

The IRS Form 5695, Residential Energy Credits for tax year 2022 uses 30% for the credit on all 

  • Qualified solar electric property costs
  • Qualified solar water heating property costs
  • Qualified small wind energy property costs
  • Qualified geothermal heat pump property costs
  • Qualified biomass fuel property costs

IRS Form 5695 - https://www.irs.gov/pub/irs-pdf/f5695.pdf

 

The TurboTax program Form 5695 uses the exact same calculations as the federal Form 5695.

sakins3
New Member

Solar Refund not calculating correctly

Thanks! I was reading the carry over incorrectly.

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