You'll need to sign in or create an account to connect with an expert.
Why are we paying a premium to use Turbotax and you don't have this form available?
WOW, it seems I'm not the only one in that situation.
First of all, I'm not a tax expert that is why I use Turbotax. In 2019 I filled form SC1040TC to for federal and state. For 2020 the amount for federal was carried over and it shows in 2019 what will carry over. I expected the same happen to state. If not I was expecting to get a message on how I have to apply and calculate my carry over in state - this wasn't the case. So there is clearly something that has to be worked on, either an explanation has to be added on how you have to file your solar tax credits for state or incorporated in the program for state in the same way as it exists for federal. I spent two hours on the phone with Turbotax "experts", even a "manager" was included in the call and after reversing my incorrect numbers on form SC1040TC in state (we just deleted form SC1040TC) they both said it is automatically applied and carried over - but it is NOT and both where NOT able to show me where it is written as a proof.
So, here is what I understood it will work for 2020:
Turbotax doesn't automatically carry over your solar tax credit for state. You have to use form SC SCH.TC-38 to manual do the calculation on this form yourself. After calculating you have to add the amount in line 10 to the form SC1040TC in your state tax. Unfortunately when I put the numbers in I wasn't able to efile anymore but was charged for (needs fixing too). So I reversed it, deleted form SC1040TC in state and efiled it without the tax credit applied. Everything worked and state accepted my file. When my refund is in the bank I have to go back to Turbotax and amend my state filling to include SC1040TC and mail it to the IRS (including all requested documents, like W2's, federal etc.) for correction.
This is far from convenient and clearly a lack in Turbotax that needs to be fixed. I hope this helps others as well. If I have this still wrong, please correct me.
Cindy, this is false for state. At least nobody was able to show me the proof. Federal is carried over right but not state. You have to manually calculate your solar tax credits on form SC SCH.TC-38 and add the value from line 10 to your state form SC40TC but you loose the ability to efile.
Ernie, this is the way it work but as soon as you have the form SC40TC attached to your state Turbotax refuses to use efile, you have to send it by mail. This might be a bug in the program since 2019 I was able to do it.
Aaron, please read my last post on page 2 this explains what I thing is happen for 2020. In general, the federal will be automatically carry over but not the state, ad least not automatically for 2020 (I put my solar up in 2019). Beside automatic calculation in Turbotax or by hand using form SC SCH.TC-38, this year I wasn't able to attach form SC1040TC to my return for efiling. Turbotax told me I have to send my state return by mail.
same in my case.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
eppleych
New Member
deskuser
New Member
Voegel98
New Member
snowy_al
New Member
joemarban1
New Member