I qualify for $6000 in Home Energy Credits but when I continue, it shows $0 for 2023. Why isn't it updated based on what the specific section says I qualify for?

Forum|Forum|2 years ago
February 10, 2024
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TurboTax Deluxe Online

Best answer by SteamTrain

Make sure you've entered ALL your income first.

If your taxable income is already a zero, before considering the solar energy credit, then zero $$ can be used this year, For solar credits, any unused credit will carry over to next year.

You might need to take a look at the actual lines on your form 5695

DoninGA

Employee

Which Residential Energy Credits are you referring to? Solar, wind, geothermal, fuel cell, insulation, windows, doors, HVAC, furnaces, heat pumps, etc.

taxdawg99Author

Solar. So if I understand the wording, it should be 30% of the installation costs. Which is correctly showed by TT as I step through the windows - after clicking continue on the last window (where it says "Good news! you qualify for $6000"), it takes me back to the main "deductions and credits" window - again where "Home Energy Credits" for 2023 still show $0.

SteamTrainAnswer

Employee

Make sure you've entered ALL your income first.

If your taxable income is already a zero, before considering the solar energy credit, then zero $$ can be used this year, For solar credits, any unused credit will carry over to next year.

You might need to take a look at the actual lines on your form 5695

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