If you installed the solar panels on your personal residence or rental property, you may qualify to claim the nonrefundable Solar Energy Federal Tax credit. If so, you need to complete and attach IRS Form 5695 to your federal tax return. You'll find this in TurboTax under Deductions & Credits >> Your Home >> Home Energy Credits.
If you installed the panels in a Rental Property, or have a Home Office, you can add the remaining cost (total cost less energy credit) as an Asset for Depreciation. Choose "computer, video, etc." as the type of asset so you report a 5 year class life.
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