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where do i put solar panel investment on turbotax

 
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where do i put solar panel investment on turbotax

To enter Home Energy Credits -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credit
Click on I'll choose what I work on (if shown)
Under Your Home
On Home Energy Credits, click the start or update button

 

Or enter energy improvements in the Search box located in the upper right of the program screen. Click on Jump to energy improvements

Vanessa A
Employee Tax Expert

where do i put solar panel investment on turbotax

Did you install solar panels on your home?  If so, this would fall under the Residential Energy Credit which is under Home Energy Credits in the Your Home section of TurboTax.  You can get to this form by entering Home Energy Credit in the search box and selecting Jump To. Or if you are using the desktop version To enter these credits into TurboTax take the following steps:

  • Federal
  • Deductions and Credits
  • I'll Choose what I work on
  • Home Energy Credits which is under the "Your Home" category

 

Just some things to keep in mind for the Residential Energy Credit.

 

The Residential Energy Credit is also a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034

This credit is worth up to 30% of the cost of the equipment, with no maximum limit.  The items that fall into this category are as follows:

  • Geothermal Heat Pumps
  • Small Wind Turbines
  • Solar Energy Systems
  • Fuel Cells
  • Battery Storage Technology

This credit can be taken for new construction

 

https://www.energystar.gov/about/federal_tax_credits

 

If you made another type of solar investment, please respond and let us know what type of solar investment you are asking about.

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