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Residential energy credit for solar panels, claimed last year and was given a portion of the 30%, this year filing for difference but still not receiving the balance, why?

 
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Residential energy credit for solar panels, claimed last year and was given a portion of the 30%, this year filing for difference but still not receiving the balance, why?

Even if your solar energy credit got carried over into your 2017 income tax return, you still might not get the credit because for 2017: 

  • Your income is at a level that's not taxed at all.
  • You're getting other tax credits that have reduced your tax owed to zero.
  • If your credit can be carried forward to next year (2018), we do that for you.

The Residential energy credit is a nonrefundable credit.  A nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero. 

For additional information, click on What Is the Difference Between a Refundable and a Nonrefundable ...

Check you Form 1040, Line 53 Residential energy credit. Attach Form 5695, to see if any portion of the credit is reflected.

To preview your 1040 Form in TurboTax Online:

  1. On the left navigation bar, click on Tax Tools then Tools.
  2. Under Tools Center, click on View Tax Summary
  3. On the left navigation bar, click on Preview my 1040.
  4. To get back to your program, click the left navigation Back button.

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