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Deductions & credits
I'm not a tax accountant but see below for an excerpt that indicates that unused energy tax credit can be used in future years. Just looking for clarification. Thanks
Written by Riley Adams, CPA • Reviewed by a TurboTax CPAUpdated for Tax Year 2023 • December 10, 2023 3:20 PM
Are energy tax credits refundable?
Energy tax credits aren’t refundable tax credits. This means that you can reduce your total tax to zero if you have a large enough credit. But, you can’t get any excess credit amount as a payment to you on your tax return if you have more energy credit than your total tax. Any unused energy tax credit claimed on your tax return can roll forward to future years and offset tax liability in those years.
February 10, 2024
12:05 PM