- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
Thank you Renee for your response. Yes, I understand I should receive a tax credit to decrease my tax liability, and any remaining credit would be carried over into future years. The problem is that’s not what happened when I filled out the information on TurboTax. I believe TurboTax may have made a MISTAKE.
Prior to entering the solar energy installation information, our overall federal tax liability was around $1500, after entering all of our income and other deductions. After I entered the solar energy installation cost (approx $31K) it told me I qualified for an $8200 credit, but then as you can see in the picture below, it added it all as a federal tax refund, rather than just decreasing my liability to zero and telling me I had a credit carryover for future years. And please note the picture was taken after all income and deductions were already entered. I saved the solar energy credit for last.
I understand the rules and what SHOULD have happened. I’m saying I think Turbo Tax made a MISTAKE. Why did TurboTax add the additional credit amount beyond my tax liability as a refund?