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February 20, 2025
Question

Is it possible E-Fille with Solar Energy Credit?

  • February 20, 2025
  • 1 reply
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Is it possible to e-file Federal & State return with Solar Energy Credit (Form 5695)  if I use Turbo Tax? I can not find a single comment to the similar post.

Thanks for any input!!

    1 reply

    February 21, 2025

    Yes, you can file your federal and state return while claiming the solar energy credit on form 5695. 

     

     To enter your solar energy expenses for the credit enter form 5695 in the search box and select Jump To or select

    1. Federal
    2. Deductions and Credits
    3. Home Energy Credits under Your Home.

    The Residential Energy Credit is  a nonrefundable 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

    To qualify

    • The product must be installed on a home you live in, whether it is your first or second home
    • You must have purchased the product new.  It cannot be used.

    In order to claim the credit you must

    • Live in the home you installed the item in
    • You can not rent this home to others if you do not also live in the home
    • it must be your main home
    • It must be in the United States
    • You cannot use the property solely for business. 
      • If you use the home partially for business but less than 20% you can take the full credit.
      • If you use the home more than 20% but less than 100% for business, you can take a prorated credit.
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