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Self employed
OK ... one more thing ... the credit is NOT refundable which means it can ONLY negate federal taxes on the return and does NOT increase the refund. So look at last year's return ... did you have a refund on it ? If so look at the federal tax liability ... that is the amount the credit can remove ... then recalculate the return and see if this credit actually increases the refund. Or does it simply reduce your balance due.
If you were expecting a $10K refund on your return to pay off the loan on the panels then you may be very disappointed ... it may take several years to use up the entire credit.
‎October 27, 2021
1:17 PM