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Returning Member
posted Apr 13, 2022 12:57:50 PM

Is the "Investment Tax Credit for Property Placed in Service in 2021" the same as the business expenses on Schedule C?

I have a Schedule C on my Federal Taxes for Business Income/Business Expenses for crypto hardware purchased/put in service in 2021.

 

I am on the State Taxes section and looking at the part where it says, "Investment Tax Credit for Property Placed in Service in 2021". Is this the same as the Business Expenses/Crypto Hardware from my Schedule C?

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1 Replies
Expert Alumni
Apr 18, 2022 11:23:40 AM

No, the investment tax credit is associated with money spent on certain specific investments in rehabilitation, energy, coal projects, and gasification equipment. It would not be associated with cryptocurrency hardware.