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How do I get ProConnect to generate a 30% solar tax credit for construction commencing prior to 2020 but not put into service until 2020?

userjill
Level 2
Currently, the 5695 is only generating a 26% credit, although I did indicate that this was construction that commenced prior to 2020.
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7 Replies 7
George4Tacks
Level 15

The credit is based upon the date placed in service, i.e. when the power company says it is okay to connect to the grid. It is NOT when it started. 


ex-AllStar
userjill
Level 2

@George4Tacks 

Please see this guidance put out by the U.S. Department of Energy. It states that if construction began prior to 2020 and it was put in service prior to 2024, the credit is 30%.

https://www.energy.gov/sites/prod/files/2020/01/f70/Guide%20to%20the%20Federal%20Investment%20Tax%20...

My entity falls within these guidelines.

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IRonMaN
Level 15

You say "entity".  If so, you might want to use the correct form.  Form 5695 is for residential credits.

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userjill
Level 2

@IRonMaN 

So what is the correct form?

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IRonMaN
Level 15

Try 3468

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userjill
Level 2

Form 3468... thank you for your help!

IRonMaN
Level 15

You betcha!

ACME Taxes, Tattoos, Tires and Tasmanian Devils - one free devil with every return.