<img src=https://nenpower.com/wp-content/uploads/2025/04/image-13459.webp alt=’What happens if I install my battery storage system in 2023 but don’t file for the tax credit until 2024′ />
If you install your battery storage system in 2023 but do not file for the tax credit until 2024, you should still claim the credit on your 2023 tax return. However, if you don’t file for it until 2024, that means you are filing an amended return for 2023, as the credit is specific to the year the system was placed into service.
Here are the steps you should follow:
- Gather Documents: Ensure you have all receipts and invoices for the purchase and installation of your battery storage system from 2023.
<li><strong>File an Amended Return</strong>: Use IRS Form 5695 to claim the tax credit and submit it with an amended return for 2023. You will need to file Form 1040X, which is for amended returns.</li>
<li><strong>Claim the Credit</strong>: The Residential Clean Energy Tax Credit for 2023 is 30% of the cost of eligible property, including qualified battery storage technology. Ensure your system meets the eligibility criteria, such as having a capacity of not less than 3 kilowatt hours.</li>
<li><strong>Consult a Tax Professional</strong>: If you are unsure about the process, consider consulting a tax advisor to ensure everything is properly documented and submitted.</li>
Remember, the credit applies to the year the system is placed into service, not when you purchase the equipment.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-happens-if-i-install-my-battery-storage-system-in-2023-but-dont-file-for-the-tax-credit-until-2024/
