💰Unused tax credits from a previous year's solar system installation can be carried over to the current year's tax return.
📑To carry over the unused tax credits, you need to fill out Form 5695 for the current year's tax return.
🏡The solar system must be installed in your primary home to qualify for the tax credit.
🇺🇸The solar system must be located in the United States to qualify for the tax credit.
⌛️The solar system improvements are expected to remain in use for at least five years.
How do I carry over unused tax credits from a previous year?
—To carry over unused tax credits from a previous year, you need to fill out Form 5695 for the current year's tax return and report the carryover amount on line 16.
Does the solar system need to be installed in my primary home to qualify for the tax credit?
—Yes, the solar system must be installed in your primary home to qualify for the tax credit.
Can I claim the tax credit if the solar system is installed outside the United States?
—No, the solar system must be located in the United States to qualify for the tax credit.
How long do the solar system improvements need to remain in use to qualify for the tax credit?
—The solar system improvements need to remain in use for at least five years to qualify for the tax credit.
Is there a limit to the amount of tax credits I can carry over?
—There is no limit to the amount of tax credits you can carry over. Any unused credits can be carried over to future tax returns.
00:00If you had a solar system installed in a previous year and didn't use up all of the tax credit, you can carry over the unused credits to the current year's tax return.
00:42To carry over the unused tax credits, you need to fill out Form 5695 for the current year's tax return and report the carryover amount on line 16.
01:31The solar system must be installed in your primary home to qualify for the tax credit.
01:55The solar system must be located in the United States to qualify for the tax credit.
02:45The solar system improvements are expected to remain in use for at least five years to qualify for the tax credit.
