I think that the above answer is incorrect.
This is different from the EnergyStar 10%
Trying to figure put the same using TTax on my return.
VELUX website is EXPLICITLY clear on their discount.
http://www.veluxusa.com/help/tax-credit
1) "... qualify under “Solar Electric Property” expenditures when purchased and installed from January 1, 2009 through December 31, 2021. "
| 2009-2019 | Save 30% federal tax credit |
2) "Fill out IRS Tax form 5695 and submit it with your taxes. Enter this tax credit off of form 5695 on your 1040 form."
And my neighbor got his 30% on his tax return already - though he has his accountant do his taxes.
So ... back to your original question ... how to enter for the 30% using TTAx ...
There is another post that refers to "Additional Energy Efficient Improvements" screen and "SolarElectricCosts", if you click "Learn More" you get
"Solar electric property
Enter the amount you paid for any property that uses solar energy to generate electricity for use in your home. The home does not need to be your main home. However, you may not include costs allocable to a swimming pool or hot tub.
The tax credit is 30 percent of the costs for assembly, preparation, and installation as well as piping and wiring."
So seems like this is the field.
... and it does populate Form 5695 as mentioned by VELUX
Note, also per TurboTax,
You "may" be able to claim both the 10% and the 30% per TTax .
Read to the bottom below ...
The Residential Energy Credits for 2018 consist of the nonbusiness energy property credit and the residential property credit.
Important: If less than 80% of the use of an item is for nonbusiness purposes, you can claim only the personal use portion of the costs to determine the credits. For example, if your business usage of the doors and windows you installed is 82%, then you can claim only 18% of the cost of these items when determining your credit.
Don't forget to reduce your purchase price of any energy-efficient property by the amount of a subsidy you received from a public utility for the purchase of the equipment. If you include the subsidy in your income you don't have to make this adjustment.
Nonbusiness Energy Property Credit equals 10 percent of what a homeowner spends on eligible energy-saving improvements , up to a maximum tax credit of $500 for the combined years since 2006. The cost of certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass all qualify, along with labor costs for installing these items.
In addition, the cost of energy-efficient windows and skylights, energy-efficient doors, qualifying insulation and certain roofs also qualify for the credit, though the cost of installing these items does not count. By spending as little as $5,000 before the end of the year on eligible energy-saving improvements, a homeowner can save as much as $500 on his or her 2018 federal income tax return.
Note:Due to limits based on tax liability, other credits claimed by a particular taxpayer and other factors, actual tax savings will vary. These tax savings are on top of any energy savings that may result.
Residential Energy Efficient Property Credit The residential energy efficient property credit, equals 30 percent of what a homeowner spends on qualifying property such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property. Generally, labor costs are included when calculating this credit. Also, no cap exists on the amount of credit available except in the case of fuel cell property. Qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity of the property.
Not all energy-efficient improvements qualify for these tax credits. For that reason, homeowners should check the manufacturer's tax credit certification statement before purchasing or installing any of these improvements. The certification statement can usually be found on the manufacturer's website or with the product packaging. Normally, a homeowner can rely on this certification. The IRS cautions that the manufacturer's certification is different from the Department of Energy's Energy Star label, and not all Energy Star labeled products qualify for the tax credits.
Eligible homeowners can claim both of the residential energy credits when they file their federal income tax return. Because these are credits, not deductions, they increase a taxpayer's refund or reduce the tax he or she owes.
