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Deductions & credits
@CTHusky72 wrote:
That’s the only thing that seems to make any sense except for the fact that the rebate was not received in the year in which the expenses were incurred.
For purposes of the credit, the credit applies for when the installation is complete, regardless of when it is paid for. It is common to not pay for it all until a later year, but the credit is still valid when it was installed.
While it may not be clearly spelled out, it seems logical that the utility rebate would have similar effect, and would apply to when the installation was done, regardless of when the rebate was received.
Personally, I would assume the rebate will come and file the credit assuming the rebate will come. In the unlikely event it does not come, then amend.
February 3, 2023
9:06 AM