Sign up, and you'll be able to vote in polls. Sign up
Jun 1, 2020
10:41:45pm
VegasCoug Starter
The solar tax credit is a non-refundable tax credit ....

That means the amount of the tax credit that exceeds your total tax liability would not be refunded to you. It would however be carried forward to the next year to offset future taxes.

For example: throughout the year, you generate a tax liability of $5,000 for which you had payroll withholding. Your solar tax credit is $7,000. You would receive a tax refund of $5,000. $2,000 of credits would roll forward to next year.

Here is a link that answers other questions.

Disclaimer, I am not a CPA. I just read CB a lot.

VegasCoug
Bio page
VegasCoug
Joined
Sep 21, 2001
Last login
May 7, 2024
Total posts
1,485 (1 FO)
Messages
Author
Time

Posting on CougarBoard

In order to post, you will need to either sign up or log in.