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Get your taxes done using TurboTax
The energy credit can only be used to offset income tax. Once it has reduced your income tax to zero the rest gets carried forward to next year. In your case you also have self-employment tax on your return. The energy credits can not be used to reduce your self-employment tax bill. Self-employment tax is the social security and medicare due on your self-employment income. Energy credits can't be used to reduce that.
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March 13, 2025
4:11 PM