SC Solar Credit Carry forward

[xxelyssa]

At a loss trying to figure out my carry forward from 2018 taxes. My overall South Carolina solar credit is ~$6000. The credit amount for 2018 was $2000 but I only paid $1000 in state taxes so I received all of that back as a refund. When calculating for 2019, using $1000 as my carry forward, my credit ends up being ~$4000, but I don't feel like that is correct. If it is correct, does that amount not matter? If my income stays the same, it should take me 4 more years to get my full credit amount?

[JotikaT2 · Accepted solution]

No, you will want to report the correct amount of the South Carolina carryforward.

To do this, you will go into your South Carolina state return:

1. Continue through the screens until you see "Take a look at South Carolina Credits & Taxes"
2. Select "Other credits"
3. Select "South Carolina Other Nonrefundable credits"

If you need to enter your carryforward from the prior years, you would enter it under "Carryover of Unused Qualified Credits"

If you need to enter current year information, you would select this:

[xxelyssa]

Okay,  just to double check I would only need to have filled out the TC-38 once (the first year I claimed the credit, which in my case was 2018) and fill out the "Carryover of Unused Qualified Credits" this year and all forthcoming years until the credit is used?

[JosephF8]

That is correct. Just follow the steps @JotikaT2 outlined to claim the carryover credit.

[howl4junk]

The link for carry over is not showing up in my Turbo tax home and small business for 2019.

Shouldn't this information been transferred over from last years filling using the same type program for 2018?

[ThomasM125]

It should have been transferred over, but you can enter it this year if it did not.

[ashafer]

I have a question on my SC solar credit. I've never been able to use mine since I always get about $175 back from state. So, I keep carrying my credit over each year. Also, I've never been able to put the credit in electronically. I always have to send a paper version of the TC form.