solar panel credit

Forum|Forum|2 years ago
October 25, 2023
2 replies
13 views

I got the solar panel installed in 2023 and I was told by solar company there is some tax credit you will be getting next year. Do i need any document from the solar company to claim the tax credit ?

Ask the Experts - Extension - Sept 2023

John-H2021

Level 6

Hello Guddu

From what I'm reading you are eligible for the credit. You will need the contract and sales agreement in case the IRS questions the amounts.

Here is a good link explaining the credit

https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D

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John-H2021

Level 6

Hello,

Here is the link that explains the credit and the qualifications

https://turbotax.intuit.com/tax-tips/home-ownership/energy-tax-credit-which-home-improvements-qualify/L5rZH56ex

The credit is non refundable but can reduce your tax liability to $0 and the excess will carryover to next year

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solar panel credit

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