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February 5, 2025
Question

where do i put solar panel investment on turbotax

  • February 5, 2025
  • 2 replies
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    2 replies

    DoninGA
    Employee
    February 5, 2025

    To enter Home Energy Credits -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Deductions and Credit
    Click on I'll choose what I work on (if shown)
    Under Your Home
    On Home Energy Credits, click the start or update button

     

    Or enter energy improvements in the Search box located in the upper right of the program screen. Click on Jump to energy improvements

    February 5, 2025

    Did you install solar panels on your home?  If so, this would fall under the Residential Energy Credit which is under Home Energy Credits in the Your Home section of TurboTax.  You can get to this form by entering Home Energy Credit in the search box and selecting Jump To. Or if you are using the desktop version To enter these credits into TurboTax take the following steps:

    • Federal
    • Deductions and Credits
    • I'll Choose what I work on
    • Home Energy Credits which is under the "Your Home" category

     

    Just some things to keep in mind for the Residential Energy Credit.

     

    The Residential Energy Credit is also a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034

    This credit is worth up to 30% of the cost of the equipment, with no maximum limit.  The items that fall into this category are as follows:

    • Geothermal Heat Pumps
    • Small Wind Turbines
    • Solar Energy Systems
    • Fuel Cells
    • Battery Storage Technology

    This credit can be taken for new construction

     

    https://www.energystar.gov/about/federal_tax_credits

     

    If you made another type of solar investment, please respond and let us know what type of solar investment you are asking about.

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