Question
solar energy tax credit and AMT
After installing Solar panels in 2019, I will be able to claim a tax credit of $13,200. It looks like AMT credit from previous year is reducing the credit however. Is this the cause of my reduced credit.
Without the Solar credit, my refund is 12,000 if we itemize and 9400 if we take standard deduction. If I then claim the solar credit, I get a refund of 16,000. Why is this happening. I thought the solar tax credit was a pure credit off of tax liability. My tax liability is in excess of the $13,000.
