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I replaced my electrical panel in 2022. When filling in 2022 there was no credit for it when I filled out the questionnaire in turbotax. I see for 2023 there now is a credit and a question about carrying previous years credits into 2023. I do not see a way to carry credit into 2023 since i did not file the electrical panel credit in 2022 and no form value to reference. Am i just out of luck or can i get the back credit for replacing the electrical panel in 2022?
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There is no carry over for the cost of items installed under the 2022 Energy Efficient Home Improvement Credit
Only the cost of items entered under the 2022 Residential Clean Energy Credit can be carried forward.
Since the panel was not an eligible item in 2022, you cannot claim the credit on your 2023 tax return.
What about items that are on the 2022 Residential Clean Energy Credit? Such as insulation? Can that be claimed on 2023 taxes if it was installed (and paid for) in 2022?
@nighthand wrote:
What about items that are on the 2022 Residential Clean Energy Credit? Such as insulation? Can that be claimed on 2023 taxes if it was installed (and paid for) in 2022?
Sorry, no. If the item was installed in 2022 then it can only be claimed on the 2022 tax return.
There is no requirement that the item had to be paid for in 2022, since many of the items may be installed using a payment plan which crosses several tax years.
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