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Tax law changes
I think I figured it out and I think TT is correct.
If my total tax from Line 18 of the 1040 is $10,000 and 30% of my solar project is $5,000, then my tax liability on Line 22 would be $5,000.
With that in mind, if I already paid $10,000 in tax over the course of the year 2022 (Line 25d), then I would get the full $5,000 for the solar project.
Is this correct?
‎February 11, 2023
12:24 PM