How do I enter prior year's ITC carryforwards to deduct in 2021?

Level 3

Feb 24, 2022 10:40:30 AM

When using our TurboTax Online software, you can enter your ITC credits for 2021 by following the steps below.

Open your return and then click on Income in the left side menu and then Investment Tax Credit.
On this page you will be asked did you earn an investment tax credit (ITC) during the current tax year or are you claiming a carryforward of ITC from a previous year. Here you need to choose all that apply and click Continue.
Next, you will enter all details for the ITCs you have chosen such as the T2038 line number, Class Description, and Amount.
When you are done with entering all ITCs details, click on the button Done with ITCs
On the next page you can see the Investment Tax Credit Summary page by Item Number.

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