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SMARAD
New Member

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

 
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5 Replies

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

If you are asking if you can get credit for amounts spent in 2020 on your 2019 return the answer is no. 

SMARAD
New Member

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

I have energy credits in 2020 and I had tax liability in 2019 and paid those taxes. For the year 2020 I will not have tax liability so can I apply the credits to my 2019 liability and get refund?

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

See my previous response. 

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

@SMARAD 

 

Well that was bad tax planning ... if you cannot use the solar energy credit in 2020 then it carries forward to 2021.   You do have a few days left in 2020 to do something like convert some IRA funds to a ROTH so you manufacture some tax liability for the credit to negate. 

Can I claim energy credits for the amount spent in 2020 by amending the tax returns of 2019?

The tax credit for energy efficient improvements to your home is claimed as of the date that installation is complete.  If you completed installation in 2019 but paid in 2020, then you claim the credit on your 2019 tax return. If you completed installation in 2020, that is when you claim the credit and you cannot backdate the credit.

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