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Why is my home energy credit zero for 2023? We have a carryover solar credit from 2022 and it says eligible for $5799 home energy credit this year.

The total carry forward credit is $17,667 and I understand we don't get all of that. Only $5799. However, after I click "continue" it says on the Tax Breaks page, $0 for Home Energy Credits this year. Why?
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2 Replies
JulieS
Expert Alumni

Why is my home energy credit zero for 2023? We have a carryover solar credit from 2022 and it says eligible for $5799 home energy credit this year.

Yes, the Deductions & Credits summary shows $0 if your only Energy Credit is a 2022 carryover. The summary only shows a new 2023 Energy Credit.

That doesn't mean you aren't getting the credit carryover. The credit carryover is shown on line 5a of Schedule 3.

You can preview your return to see the figure:

 

  1. Open your return.
  2. Select Tax Tools from the left-side menu, then Tools.
  3. Select View Tax Summary in the pop-up box.
  4. Select Preview my 1040 from the left-side menu.
  5. You will see the Form 1040 with Schedules 1, 2 and 3.
  6. When you are done, select Back from the left-side menu. 
     
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Why is my home energy credit zero for 2023? We have a carryover solar credit from 2022 and it says eligible for $5799 home energy credit this year.

If you did get some of it, but not all...then perhaps the 5799 portion of the credit already reduced your remaining tax assessment to zero.....and the remainder  is carrying over to next year.

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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