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mikesdailyplanet
New Member

What amount do I enter for my new solar system?

 
3 Replies
PatriciaV
Employee Tax Expert

What amount do I enter for my new solar system?

Yes, the 2017 Federal Tax Credit for Solar Energy Systems is limited to 30% of the cost of the system, including installation costs. This is a non-refundable credit, which means the credit is limited to the tax you owe. Anything over that amount is carried forward to future tax returns. For this reason, be sure you enter the entire amount you paid for the system. TurboTax will calculate the amount of credit for which you qualify.

Additional Info:

mikesdailyplanet
New Member

What amount do I enter for my new solar system?

What if we did HERO financing?
PatriciaV
Employee Tax Expert

What amount do I enter for my new solar system?

How you paid for the system doesn't matter. As long as you are obligated to pay for the cost that you report on your tax return, you should be fine.
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