Residential Energy Efficient Property Credit carryover limitation

[Jack from Ohio]

Can someone direct me to the IRS information about when the time limitation of Residential Energy Efficient Property Credits carryover?

This is in reference to solar, geothermal and wind.

I find many references to the ability to carry unused credit forward, but no information as to how long the credits can be carried.

- Jack-

[mcb39]

See the instructions for Form 5895.

[Jack from Ohio]

See the instructions for Form 5895.

Line 28

If you cannot use all of the credit because of the tax liability limit (line 26 is less than line 23), you can carry the unused portion of the credit to 2011.

What did I miss??

[Pacun]

I love when people give this type of response.... "read the instructions for form 5895, especially for lines 23, 24, 25 and 26". I also love when you ask a question and they send you a link to the tax code or to a publication.

[mcb39]

I believe that it is a refundable credit. I had one last year, but she did the solar "thing" and got the credits from the US and WI beforehand. There was a lot of paperwork involved, but the client did it herself. I am away from my office and don't have the file with me. Pub 17 says very little. Am sorry that I offended Pacun with my response, but that was all that I had to work with at the time.

[Jack from Ohio]

It is definitely NOT refundable. The leftover does roll forward. However, I cannot find any reference to limitations about how many years forward it is carryable.