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Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

 
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maglib
Level 11

Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

In Feb. the president retroactively reinstated the Residential Energy Eff Tax credit.  You can not carryforward related expenses, you can carryforward the unused portion of the $500 credit.  Which means only 2017 expenses would be deductible against the unused portion of the energy credit. Do note the IRS still has not updated forms for this credit and TT can not until the IRS does.  This was one of many last minute tax changes.

**I don't work for TT. Just trying to help. All the best.
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5 Replies
maglib
Level 11

Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

In Feb. the president retroactively reinstated the Residential Energy Eff Tax credit.  You can not carryforward related expenses, you can carryforward the unused portion of the $500 credit.  Which means only 2017 expenses would be deductible against the unused portion of the energy credit. Do note the IRS still has not updated forms for this credit and TT can not until the IRS does.  This was one of many last minute tax changes.

**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.

Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

The credit of $500 is the most that can be claimed for a Nonbusiness Energy Property Credit.  There are no carryovers for this credit if the entire credit of $500 has been used.

Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

I think its a lifetime max also, isn't it?  Meaning you cant get it again for putting in more windows.
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Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

Yes, I read that as a lifetime maximum also.  As shown on the 5695 instructions (2016) - <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-prior/i5695--2016.pdf">https://www.irs.gov/pub/irs-prior/i5695--2016.pdf...>
- A total combined credit limit of $500 for all tax years after 2005.
- A combined credit limit of $200 for windows for all tax years after 2005.

Last year I had 1400 in energy efficent windows that were installed, I was able to get credit for 500.00 max on 2016 income tax, can the other 900.00 be used as a carry

To be clear, does that carry over from 2017 to 2018 also apply to the Nonbusiness Energy Property Credits? Another reply indicated no c/o at all? Specifically, I am finishing my 2017 tax return. I generated a $500 energy credit by installing doors, windows, insulation and skylights. I'm can only take $100 energy credit in 2017 and my lifetime remaining portion is $400. How do I carry that forward since the TurboTax program as written says I "have no credit to carry forward" (to 2018)? Thanks
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