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R
rovingpollocks
February 27, 2025
Question

Should IRS form 4562 be automatically applied if I used form 5695 for a solar installation?

  • February 27, 2025
  • 1 reply
  • 0 views
Will IRS From 4562 be prepared after using form 5695 for the value of a new solar system?

    1 reply

    PatriciaV
    PatriciaV
    Employee
    March 10, 2025

    Form 5695 is used to claim Residential Energy Credits. If you wish to depreciate the solar system, the cost would need to be added to a business or rental property as a long-term asset. Once this entry is made, TurboTax will prepare Form 4562 Depreciation and Amortization. If the system was installed on your primary residence, the cost would increase your basis in the property but would not be eligible for depreciation.

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