Is it my option to use, or not use, a solar credit in any given year?
Since in 2023, my withholdings were more than the tax owed, I got the overpayment as my refund and still have the full amount of the credit. When I file the 2023 amended return would the 2023 tax liability be automatically applied against the solar credit and "refund" the tax liability for that year?
In 2024 I have had considerable expenses in rental property repairs. A 2024 tax estimate is already indicating I'll receive all my withholdings back as a refund so at this point I won't need/use any solar credits this year either. I was anticipating using the solar credit to offset capital gains and return of depreciation if I sold one or more of the rentals, and/or offset the taxes on RMDs that will start in five years.
