2923116
In 2022, I purchased two Powerwall solar batteries and additional solar panels... in TurboTax can I lump all costs together under "Solar electric costs" or do I have to separate the two costs (i.e., a cost for the Panels under "Solar electric costs" and another for the two Powerwalls under "Fuel cell property cost")? Are there examples or screenshots that can be viewed?
You'll need to sign in or create an account to connect with an expert.
You will have to separate the costs (see below). The maximum qualifying costs that can be taken by all joint occupants is $500 for each one-half kilowatt of capacity of the property. Keep in mind that TurboTax will calculate this credit for you. All you need to do is enter your portion of your costs and the total kilowatt capacity of the property.
So, just confirming... for my $37,110 total cost, $9,160 was for Solar Panels (captured under "Solar electric costs"), and $27,950 was for Battery Storage (captured under "Fuel cell property cots") with a 26.4 kWh of storage capacity (captured under "Kilowatt capacity of fuel cell property"). Does this look correct?
Yes, here is the calculation I got using those numbers: @Breh
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jmtoback
New Member
Lou7
Returning Member
superteach42
New Member
ronaldjay_19
New Member
wendyn1
New Member