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Level 2
posted Apr 13, 2020 4:59:27 PM

Why is my home energy credit being carried forward

In 2017 i bought(paid in full) solar system and had it installed. On my 2018 taxes it said energy credit will be carried forward to 2019. Now I’m doing my 2019 taxes and said the double the original amount (little over $13000) will be carried to 2020. Why is that?

0 7 1439
7 Replies
Level 15
Apr 13, 2020 5:19:07 PM

Look at the form  5965 ... did you accidentally enter the solar credit again this year ?  

Employee Tax Expert
Apr 13, 2020 5:22:41 PM

It depends.

 

Your tax credit can only be used to offset any tax liability.   Any excess credit over your tax liability cannot be refunded as this is a nonrefundable credit.  However, it can be carried forward. 

 

You can look at your current tax liability by doing the following: 

  1. In the black panel on the left, select Tax Tools 
  2. Then Select Tools below Tax Tools 
  3. Under the Other helpful links section, select View Tax Summary 
  4. Review the line which says Total Tax.  If this amount is $0, then you have no tax to offset the credit with.  If there is an amount shown, then part of your credit may be used to offset that tax liability.
  5. Once you are done reviewing this information, click "Back" on the black panel on the left to get back to the interview screens. 

  6.  

Level 2
Apr 13, 2020 6:24:53 PM

Negative, i clicked update on energy credit (using desktop home and business) and it said 13k will be carried over to next year.

Level 2
Apr 13, 2020 6:25:30 PM

I’m using desktop version home and business and federal tax I owe is $120

Level 15
Apr 13, 2020 6:34:57 PM

LOOK at the return ... the solar credit is non refundable and can only be used on regular tax ... what is on Sch 2 ? 

Level 2
Apr 14, 2020 8:59:02 AM

@JotikaT2 @My total tax says $1691

total payments $1570

tax due $121

Level 2
Apr 14, 2020 8:59:39 AM

@Critter Schd 2 says $1691