Do I need to hire a tax professional to file a 5695 form for Residential energy credits

CarrieH
CarrieH Member Posts: 1 Newcomer
in Credits/Deductions

I'm wondering if I need to hire a professional tax consultant to file my return for 2024. I had solar panels installed in 2024 and would like to take the Residential energy credit of 30% of the cost of the solar panels. Can I do this myself via the Free Tax USA website and file both the 1040 and the 5695 forms for my taxes. Or do I need to hire a tax professional to file this for me?

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Answers

  • PhillipB
    PhillipB FreeTaxUSA Team Posts: 80

    Hello,

    You can file your own tax return with the Residential Energy Credit on Form 5695 using FreeTaxUSA.

    Let us know if there are additional questions or concerns.

    Thanks for using the FreeTaxUSA Community

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  • Henry
    Henry FreeTaxUSA Agent Posts: 104

    Hi CarrieH,

    We do support Form 5695, and many people use our software to prepare their tax returns and claim the Residential Energy Credit.

    If you installed solar panels, you can report those expenses by going to Deductions/Credits > Common Deductions/Credits > Home Energy Credit and answering the questions there about your energy efficiency improvements. The software is designed to walk you through the process of claiming the Residential Energy Credit and will generate the necessary forms based on your entries. Customer support is also available to help if you have trouble.

    We hope you'll give our software a try, but you'll need to decide what is the best method of preparing your tax return for your situation.

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