I installed solar panels in 2019 and am entitled to a $7500 Credit but I expect to get a refund this year. I had a tax liability for the 2018 year of which I paid. I know the solar credit can be carried forward until I have another tax liabilty to apply it to, but I thought I read somewhere that the solar credit can be “carried back” 1 year. Can I apply my 2019 credit to 2018 instead of carrying forward and be refunded what I paid in tax liabilty last year?
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Sorry it cannot be carried back ... only forward.
If the tax credit is carried back, does that mean a refund check for those taxes paid? we are talking a business.
If there is a refund on the amended return then yes you would get it ... that is the core of the amendment process.
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