SteamTrain
Level 15
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Deductions & credits

Beyond that, most energy credits are applied, whether or not you use Itemized or Std deduction.

At least if you are talking about a Federal tax return....States that have a separate energy credit selection may differ.

 

Energy credits do tend to be non-refundable...meaning you must actually have a Federal tax liability to use them in a particular year.   Thus, even if your assessed tax is zero for all your income this year, the credit will not be used this year.....but might carry-over to be used next year. 

(I haven't checked recently to see if the carry-over can be used for all the energy credits.....or just some of them)

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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