We live in Maine and recently had solar panels installed on our house. We will file form 5695 for this year's federal tax credit for around $10K+. My question is: My husband is self employed and does not pay his quarterlies throughout the year, but instead at filing time - will this federal tax credit interfere with any payments/credits he would be paying for his self employment taxes? For example, if he owes $4K - will the REC5695 tax credit be any part of payment towards his employment taxes? I ask because our loan for the solar panels is partly based on paying back the $10K lump sum in 18 months.
Thank you.
