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

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

30% solar panel tax credit and EV credit

I recently purchased solar panels that were installed on my roof in October 2019, will the 30% solar tax credit apply in my situation ?

Note the system has not yet been activated and is partially paid for waiting for the utility 

 

also can turbo tax software handle solar credit and EV credit applications?

 

Thanks 

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.

3 Replies
IsabellaG
Expert Alumni

30% solar panel tax credit and EV credit

Probably not. The IRS requires that your solar panels be "placed in service" in 2019 in order to qualify for the 30% credit. While the property doesn't have to actually be used to be placed in service, it does have to be available and ready for use, which I would interpret as activated. You would need to have permission to operate your solar system before you can claim a credit.

 

Yes, TurboTax Online Deluxe and higher can handle both Solar and EV credits. Any version of  TurboTax Desktop software can also handle these credits.

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

30% solar panel tax credit and EV credit

Thank you so much , what about payment of the system. does it have to be fully paid in 2019 , or as long as you made a partial payment 

30% solar panel tax credit and EV credit

It doesn't have to be fully paid ... in fact many people make payments on them for years.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies