Skylights do leak – when there is no need to replace a skylight but rather just make sure it doesn’t leak, then Turbo Poly Seal will save the day.
Caulking or Tar is not the way to fix a skylight leak. I use a product I get from https://Bergstomm.com. It is a polyurethane-based product called Turbo Poly Seal. I use this Turbo Poly Seal on all my repairs. Flashing, metal edging, and fixing drains. I even do the flashing repair on posts on a deck.