solar panals

Forum|Forum|5 years ago
April 17, 2021
4 replies
24 views

if you install your solar panels in 2017 are you eligible for a percentage of the solar tax credit for the next 4 years ? also the following year 2018 they added more solar panels they sent me this info, If you install your solar panels in 2017, then you will receive a tax credit for 30% of your solar panel cost on your 2017 taxes when you file in April of 2018. The tax credit remains 30% through 2019, then drops to 26% in 2020, 22% in 2021. The client expects to get these credits they received the credits 2017 & 2018 but not 2019 should'nt proseries program carry forward these credits? the client was told by the solar installer that they have a life-time solar credit for 4 years ?

ProSeries Basic

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

2017 the credit would have been 30%, and that credit gets carried over until its used up. Some people use up all the credit in one year, others use up a portion and the remainder gets carried forward.

If they install more panels later, those would be subject to whatever credit was available in the year of install.

Just-Lisa-Now-

Answer

Intuit Community Champion

2017 the credit would have been 30%, and that credit gets carried over until its used up. Some people use up all the credit in one year, others use up a portion and the remainder gets carried forward.

If they install more panels later, those would be subject to whatever credit was available in the year of install.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Accountant-Man

Level 13

Does the solar installer operate his business as "Solar Panels and Taxes R Us?"

The credit is 30% of the cost just once per payment year. Pay in 2017, 30% of the cost. If you can't use it all, the balance carries over.

If you pay more in another year, more credit.

** I'm still a champion... of the world! Even without The Lounge.

qbteachmt

Level 15

Please do not keep starting these as New Topics. I marked your original question to be deleted.

You are being helped here, and the other peer users trying to help you need to see what help you already got, and you continue the discussion here, and everyone has a much easier time of this, including you.

Thanks.

Don't yell at us; we're volunteers

T

taxes96786

Level 8

There is a lifetime limit on the credit. If the 2017 credit uses that up then there is no more to be reported.

Just-Lisa-Now-

Intuit Community Champion

Thats not for solar, thats for the other types of energy credits.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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