In 2017 i bought(paid in full) solar system and had it installed. On my 2018 taxes it said energy credit will be carried forward to 2019. Now I’m doing my 2019 taxes and said the double the original amount (little over $13000) will be carried to 2020. Why is that?
Look at the form 5965 ... did you accidentally enter the solar credit again this year ?
It depends.
Your tax credit can only be used to offset any tax liability. Any excess credit over your tax liability cannot be refunded as this is a nonrefundable credit. However, it can be carried forward.
You can look at your current tax liability by doing the following:
Negative, i clicked update on energy credit (using desktop home and business) and it said 13k will be carried over to next year.
I’m using desktop version home and business and federal tax I owe is $120
LOOK at the return ... the solar credit is non refundable and can only be used on regular tax ... what is on Sch 2 ?