☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Dec 12, 2019 7:24:06 AM

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 

0 3 1042
3 Replies
Expert Alumni
Dec 12, 2019 8:34:13 AM

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.

Level 1
Dec 20, 2019 6:34:37 PM

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 

Level 15
Dec 22, 2019 8:05:18 AM

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