When i fill out my state solar energy credit, I am only seeing a credit of 581, It should be 25% of cost which was 42k and across multiple years same as fed. whats wrong?

when filling federal, we will recieve 10,500 accross years since there is a cap for each year. I was told this before by salesman and was also told to expect the same for state filing. I filed state and it didnt show me the 10k amount and that it would be carried across to next year but instead only says I get a credit of 581? What has been done wrong in the situation? I only purchased the panels for the credits.

295

Level 15

Feb 5, 2022 2:20:13 PM

Which state?

Returning Member

Feb 5, 2022 2:28:08 PM

South Carolina, I believe the 581 may be reaching some sort of cap. WHen i changed the amount from 42k to 4k, the amount changed down. I then upped it to 10k and it hit the 581 value as it does with the 42k and 400k. I am just unsure on why and want to make sure if this is the case, the rest will carry forward that I am supposed to recieve. Thankyou for your time.

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When i fill out my state solar energy credit, I am only seeing a credit of 581, It should be 25% of cost which was 42k and across multiple years same as fed. whats wrong?