Residential Energy credit

[fesemagu]

A taxpayer has a residential energy credit of $14,233.00. His tax liability is $9,523.00.

Will the energy credit balance be a carryover to the next tax season? If it is, will the tax program automatically calculate it for the taxpayer next year?

[BobKamman]

What number do you see on Line 16 of the Form 5695?

[The-Tax-Lady]

@BobKamman 

That was a great letter to Mr. Rettig, which I saw on Procedurally Taxing, and it must have lit the fire under somebody at the IRS, considering the actual guidance they issued in record time.

Great work, thanks👏

[taxes96786 · Accepted solution]

It will carryover until used up. The program will carry it over but I would review the form each year just to be sure it is correct.

[fesemagu]

Thanks for the quick response.