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 Feb 10, 2024 7:38:27 AM

I qualify for $6000 in Home Energy Credits but when I continue, it shows $0 for 2023. Why isn't it updated based on what the specific section says I qualify for?

0 3 432
1 Best answer
Level 15
Feb 11, 2024 4:28:16 AM

Make sure you've entered ALL your income first.

 

If your taxable income is already a zero, before considering the solar energy credit, then zero $$ can be used this year,   For solar credits, any unused credit will carry over to next year.

 

You might need to take a look at the actual lines on your form 5695

3 Replies
Level 15
Feb 10, 2024 7:40:55 AM

Which Residential Energy Credits are you referring to?  Solar, wind, geothermal, fuel cell, insulation, windows, doors, HVAC, furnaces, heat pumps, etc.

Level 1
Feb 11, 2024 2:24:04 AM

Solar. So if I understand the wording, it should be 30% of the installation costs. Which is correctly showed by TT as I step through the windows - after clicking continue on the last window (where it says "Good news! you qualify for $6000"), it takes me back to the main "deductions and credits" window - again where "Home Energy Credits" for 2023 still show $0.

Level 15
Feb 11, 2024 4:28:16 AM

Make sure you've entered ALL your income first.

 

If your taxable income is already a zero, before considering the solar energy credit, then zero $$ can be used this year,   For solar credits, any unused credit will carry over to next year.

 

You might need to take a look at the actual lines on your form 5695