@pc-wizard wrote:
As of January 17, 2025, any amount you do not use is lost. You can no longer carry over left over credits to the next year. This is from the FAQ on the IRS website:
Q1. May a taxpayer carry forward an unused credit to a later taxable year? (updated Jan. 17, 2025)
A1. No. A taxpayer may not carry the credit forward. Thus, if a taxpayer does not have sufficient tax liability to claim all or a portion of the credit for a taxable year, the unused amount of the credit may never be claimed.
So if you're a middle class American, you will never get all off the Solar Tax credit. We don't make enough money. To get the full amount, you have to be rich.
That is only for the Energy Efficient Home Improvement Credit
NOT the Residential Clean Energy Property Credit
