Yes. For the energy credit, put in the total cost of the system. It doesn't matter that you're financing the purchase.
Residential Energy Efficient Property Credit - If you placed items into service like qualified solar electric property, solar water heaters, small wind energy property, geothermal heat pump property, and fuel cell property:
? The credit is 30% of your costs. Include any labor costs associated with onsite preparation, assembly, or original installation of the residential energy efficient property and for piping or wiring to interconnect the property to the home. The credit amount for costs paid for qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity of the property.
? The amount of your credit allowed is limited to the amount of your remaining tax liability after any current year residential energy property (doors, windows, etc.). If the remaining tax liability is less than your credit amount, any amount not used to bring your tax liability down to zero, will be carried forward to the next year.
To enter the information for the credit in TurboTax, please follow these steps:
1. Click on Federal Taxes > Deductions & Credits.
2. In the Your Home section, click on the Start/Revisit box next to Home Energy Credits. [See Screenshot #1, below.)
3. On the Energy-Saving Home Improvements screen, click Yes and then Continue. [Screenshot #2)
4. Continue through the screens until you reach Enter Any Additional Energy-Efficient Improvements. This is where you enter the costs for your solar installation. [Screenshot #3)
5. Proceed through the screens, entering the requested information.
6. TurboTax will then calculate any credit due.
For additional information see the IRS instructions for Form 5695: https://www.irs.gov/pub/irs-pdf/i5695.pdf
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