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Other financial discussions
No, the energy credits can only be taken in the year the eligible improvements were made.
However, if you do not have enough of a tax liability to use up the entire credit, it will be carried forward to next year until it is utilized. This is because the Residential Clean Energy Credit is a nonrefundable credit. It can only be used to offset the tax liability shown on your tax return.
Please see this link for more details on the potential energy credits available.
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May 30, 2024
3:00 PM