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Solar required roof replacement, was told by solar installers that there is a credit for the portion of the roof the solar was installed on

 
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HelenaC
New Member

Solar required roof replacement, was told by solar installers that there is a credit for the portion of the roof the solar was installed on

That's correct. The credit is equal to 30% of your total cost. 

To enter your energy credit

  1. Open your return, if you don't already have it open.
  2. In TurboTax, search for energy improvements. (Do not search for "energy credit," as this will take you to the wrong place in the program.)
  3. Click the "Jump to" link in the search results.
  4. At the bottom of the Energy-Saving Home Improvements screen, answer Yes and continue. Follow the on-screen instructions.

Installing alternative energy equipment in your home can qualify you for a credit equal to 30% of your total cost. The credit is available through the end of 2019. After that, the percentage steps down each year and then stops at the end of 2021.

  • Qualifying equipment includes solar-powered units that generate electricity or heat water. The credit is only available for improvements you make to your residence. This can apply to a second residence as well.
  • As a credit, you take the amount directly off your tax payment, rather than as a deduction from your taxable income. Other than the cost of the system, there's no limit to the dollar amount of the credit.


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