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Solar installation didn't go trough, IRS rejected due to miscalculations, so I didn't get the credit (36K liability, withheld ~40K). Can I do something?
I was under the impression that if your tax liability was more than the credit and you had your taxes withheld and you were subject to a refund you could get your Solar Tax credit refunded as well.
So I attached form 5695 with the info (couldn't file electronically for some reason, had to do it via snail mail) and got my refund cut in half due to a "Miscalculation" , essentially the Solar credit didn't count.
I had 36K liability, paid over 40K (withheld), was subject to a refund of ~5K 6K of the Solar credit, only got the 5K.
Did I do something wrong? Is this the way it REALLY works?
So I attached form 5695 with the info (couldn't file electronically for some reason, had to do it via snail mail) and got my refund cut in half due to a "Miscalculation" , essentially the Solar credit didn't count.
I had 36K liability, paid over 40K (withheld), was subject to a refund of ~5K 6K of the Solar credit, only got the 5K.
Did I do something wrong? Is this the way it REALLY works?
Topics:
May 10, 2021
10:49 PM