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mikentosh3
New Member

what exactly is "Solar Electric Costs?

The explanation of this on the software does not make any sense to me. "Enter the amount you paid for any property". 

 

Property means the cost of the real estate. Do they mean the cost of the solar installation? Of the cost of the solar panels cost for this year only? 

 

This needs more clarification. 

3 Replies
Opus 17
Level 15

what exactly is "Solar Electric Costs?

Property is anything you can assert ownership of.  Real property is real estate.  (My car is certainly my property.  Or think about "intellectual property.")

 

In this case, the solar electric credit is eligible on the cost of the solar system. You can also include costs for site preparation and hookup.  

 

In this case the term comes directly from the statute. 

https://www.law.cornell.edu/uscode/text/26/25D

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
mikentosh3
New Member

what exactly is "Solar Electric Costs?

I claimed the credit on 2018 return but I have a carry over of $17k. I answered that I have a carry over but i don't see where to enter that. Is this the place to enter that?

Opus 17
Level 15

what exactly is "Solar Electric Costs?

I haven’t use that section of the program recently, but if it asks you, did you have cost in 2019? The answer is no. You may get a question about prior your carryovers on the next screen. Try just keep going forward in the interview. (If you use used the same TurboTax account last year, the carryover should automatically be applied.)

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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