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Get your taxes done using TurboTax
Hello Manish,
The Solar credit is applied to your tax liability and having a refund or owing money at the end of the year doesn't affect the credit. The credit is applied to your tax liability (amount of tax due on your taxable income) and will either increase your refund or decrease your balance due. The credit is nonrefundable so if the credit is more then your tax liability the excess will be carried over to the following year.
Here is a link to an article with more information
https://turbotax.intuit.com/tax-tips/going-green/what-are-energy-tax-credits/L4KbTmTZS
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‎June 28, 2023
9:56 AM
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