Question

Has anyone filed a smart solar program 1099? I am trying to determine if we can use any deductions to offset the solar incentive programs income

Forum|Forum|5 years ago
March 10, 2021
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TurboTax Live Self Employed

Use Form 5695 to claim the Residential Energy Credit for solar panels and other solar incentive programs.

Access the form from the Credits and Deductions section in Turbo Tax. Type Form 5695 in the search box, and then click Jump to Form 5695.

Here is a TurboTax article about energy credits.

T

themahers2015Author

But we were issued a 1099-misc from the smart program. I know we can still claim our solar credits but this is income related not credit related.

ReneeM7122

If you received a 1099-MISC from the smart solar program then you just need to enter it as a 1099. There aren't any deductions to offset the income, but keep in mind it is not income for services rendered. Therefore, on the next screen, you should be able to select that this was a manufacturer's incentive payment