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State tax filing
Unfortunately, if you don't have to pay any taxes in SC, then you won't get any benefit from the solar tax credit. Both the SC and Federal solar credit are non-refundable tax credits, which means it can only bring your taxes owed down. This could bring your taxes down to $0 in the case of Federal tax, so if you got money back it was probably a refund of taxes withheld. The SC solar tax credit is even more limited, since it can be no more than $3500 or 50% of your tax bill, whichever is lowest (in your case, 50% of $0 is $0). Both of these can be carried forward to subsequent years if you can't take the full benefit in one year.
‎February 24, 2021
4:52 PM
2,844 Views