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Get your taxes done using TurboTax
Hi Amy,
Thank you so much for looking at this. I just generated the diagnostic file in the desktop version. The Token Number is 1199853.
I think the issue has to do with the Residential Clean Energy Credit Limit Smart Worksheet:
- Taxable Income - The credits can only be applied to the tax on my taxable income.
- SE Tax - This is a lot higher this year because the money I put into my solar system could not be put into my business to lower my P&L. The tax credit cannot be used to reduce this, right?
- Summary - I made the assumption I would get a full tax credit reducing my liability from $6193 to $12.
- Question - Do you see anything I can do to improve my situation? After reviewing everything to get a better understanding, I don't think there is much that can be done. It's just rough to have to pay the $6193 after putting down $25588 to improve our environment.
March 1, 2024
11:57 AM