Vanessa A
Expert Alumni

Get your taxes done using TurboTax

The Residential Energy Credit is a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034. This credit is worth up to 30% of the cost of the equipment, with no maximum limit. 

 

The credit being non-refundable means you must have enough tax liability in order to use up the credit.  If you do not have enough liability, you will not get the credit, but it can be carried forward. 

 

Your instacart income will be considered self-employment income so you should make quarterly estimated payments on this income.  SE taxes are 15.3% of your SE income.  Non-refundable credits do not offset these taxes, so even if you would get the solar credit of $10,000, you still could in some cases need to still pay in.  

 

Taking Business Expense Deductions

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