Does anyone know where in ProSeries to report the Energy Communities Tax Credit Bonus of 10% for solar? There is not place in Form 5695 for this additional credit.

Forum|Forum|2 years ago
March 19, 2024
3 replies
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dkh

Level 15

Have you looked at F3468 ? I suspect that's where it would be reported.

T

TaxGuyBill

Level 15

Is the solar for their personal use (Form 5695) or is it for business (Form 3469)?

Just-Lisa-Now-

Intuit Community Champion

Is this for the additional % becasue the panels were made in the US?

I saw someone ask about this a week or two ago, I didnt ever see an answer though.....I remember scrolling through the 5695 and didnt see a spot for it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

D

DRBEAAuthor

Level 4

This TP appears to be eligible for an additional 10% tax credit because he installed solar at his home in West Virginia. He operates a farm on his property. According to https://www.solarholler.com, 52 out of 55 counties in West Virginia can take advantage of the "Energy Community" tax credit, meaning most nonprofits and businesses in the state will see their tax credit jump from 30% to 40%.

I'm just not sure where to claim this additional 10% tax credit or what documentation may be needed to support.

Just-Lisa-Now-

Intuit Community Champion

@DRBEA wrote:

This TP appears to be eligible for an additional 10% tax credit because he installed solar at his home in West Virginia. He operates a farm on his property. According to https://www.solarholler.com, 52 out of 55 counties in West Virginia can take advantage of the "Energy Community" tax credit, meaning most nonprofits and businesses in the state will see their tax credit jump from 30% to 40%.

I'm just not sure where to claim this additional 10% tax credit or what documentation may be needed to support.

Sounds like something on the state return then if it only applies to certain counties in WV.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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