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I am going to have a tax carryover of about 10K, I owe 6K from 2013 tax year. Am I able to use this carryover to pay for my outstanding tax liability?
We put on solar panels and that is why I am going to much back this year, the government pays for 30% of the install. I did not make that much and have a large carry over to next year. Can this amount pay for my tax liability due?
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posted
June 3, 2019
11:50 AM
last updated
June 03, 2019
11:50 AM
1 Best answer
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I am going to have a tax carryover of about 10K, I owe 6K from 2013 tax year. Am I able to use this carryover to pay for my outstanding tax liability?
Unfortunately, the carryover of a tax credit cannot be applied to a prior tax liability.
If you are expecting a refund, however, that cash may be applied to your outstanding balance due to the IRS. In most cases, the IRS does this automatically.
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June 3, 2019
11:50 AM
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I am going to have a tax carryover of about 10K, I owe 6K from 2013 tax year. Am I able to use this carryover to pay for my outstanding tax liability?
Unfortunately, the carryover of a tax credit cannot be applied to a prior tax liability.
If you are expecting a refund, however, that cash may be applied to your outstanding balance due to the IRS. In most cases, the IRS does this automatically.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 3, 2019
11:50 AM
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