Yes, American-made solar panels may qualify for an extra 10% credit under the Inflation Reduction Act if they meet domestic content requirements.
You can claim this bonus on Form 5695 by including it in the total credit and attaching the necessary documentation if needed. This extra 10% solar tax credit pertains mainly to businesses and not to individual taxpayers.
This extra credit is part of the Inflation Reduction Act and is a "Domestic Content Bonus Credit".
To claim this credit, a domestic content certification statement must be attached to Form 8835, Renewable Electricity Production Credit or Form 3468, Investment Credit and filed with the taxpayer’s annual return submitted to the IRS for the first taxable year in which the taxpayer reports a domestic content bonus credit amount.
TurboTax does not support this form 8835. See Which IRS forms are not included in TurboTax?
You would have to download the form 8835 from the link above and fill it in manually.
Your tax return can't be e-filed. It has be printed out and filed by mail.
Click here for Notice 2023-37
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
