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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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HelenaC
New Member

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.

Related information:

Procion9
New Member

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?

Why the Form1040 from Turbo Tax doesn't include Line 53 Residential Energy Credit?. I have $8,308 credit from 2018 for Solar Panels Installation.

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?

Since the IRS changed the 1040 and the additional schedules AGAIN this year  so the form 5695 credit will show on the Sch 3 line 5 that then carried to the 1040 line 13b. 

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