1089101
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

8 Replies
JosephF8
Expert Alumni

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

The tax credit for solar panel is non-refundable.

This means it is limited to your tax liability.

  • If you end up with a bigger credit than you have income tax due—a $3,000 credit on a $2,500 tax bill, for instance—you can't use the credit to get money back from the IRS..
  • Instead, generally, you can carry the credit over to the following tax year.
  • However, it is not yet clear whether you can carry unused credits to years after the solar credit expires.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

This solar stuff is a scam ,these solar salesman are making it sound like you get 30 percent back instantly on your taxes to help pay for the system and lower your monthly bill through the finance company, I feel we need to alert the public about this scam going on . I no that's how it was put to me when I decided to put solar in my home and now to find out I will never be able to put the 30 percent towards the bill cause that is not going to happen . so now my bill for the solar financing bill is going to go up after 18months due to not getting the full 30 percent back before that 18 month time frame .

msiedlarz
New Member

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

Yes I am in the same boat. We were told the same thing, the issue we are having is going to sell the house, so if the second portion would come in 2020 who gets that. us or the next owner. 

LeonardS
Expert Alumni

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

Your understanding of the solar credit as a nonrefundable credit is correct.  However, the unused credit can be carried forward to offset your tax liability in future years.  If you sell your house any remaining solar tax credits do not transfer.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

In the words of our salesmen “ you will get an awesome 30% tax credit back when you file in 2020 that can be applied to your loan” ...... 

ya, we don’t qualify. It’s a huge mess right now and they are currently trying to remove the system, pay the loan back to us and be done with this mess. It wasn’t the only thing we were lied to about either. This actually just became ANOTHER issue. I’m so heated from this whole experience. Lack of experience from the salesmen and completely lying to us with false “perks”. There are no darn perks! Not for us at least. If you are not a certified agent at a tax office or an accountant do not give any IRS information to anyone. I feel like a complete dope for believing these solar people. 

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

its not your fault you were sold on the 30 percent like I was ,,they tell me now I will have to pay a cancelation fee..

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

Ya but the fact is they are selling it as your going to get 30 percent as soon as you do your taxes,,THEY ARE NOT SAYING IF YOU QUALIFY !!! THEY ARE SELLING IT AS YOU CAN PUT THAT 30 PERCENT DOWN ON THE TOTAL BILL SO YOUR PAYMENTS DONT GO UP . EVEN THE DAM LOAN COMPANY IS SOLD ON THE FACT THAT YOUR GOING TO PUT THAT 30 PERCENT DOWN...ITS A SCAM...

We bought solar panels and we were told we would receive 30% tax credit. We did not receive the full 30% back?

I think everyone understands how it works now that its all installed and we all have done our taxes to only find out that there selling point is the 30 percent your going to get OH BOY ! what they fail to say IF YOU QUALIFY...Lots of people were sold on the 30 percent PERIOD. Why don't someone do something about this marketing technic (( OF 30 PERCENT ))  that they were probably told to do in the first place....

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question