I have over $10,000 energy tax credit from prior year Form 5695. My current return is showing I owe almost $1,500 and that I do not get the credit. All $10,000+ credit is being carried to next year.
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Residential Energy Credits are calculated before the self-employment tax. Any excess or carryover credit cannot be applied against the self-employment tax.
Residential Energy Credits are calculated before the self-employment tax. Any excess or carryover credit cannot be applied against the self-employment tax.
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