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Jun 1, 2020
10:48
:01
pm
gww687
All-American
RE: Solar question about tax liability and whether it's worth it.
I think the only thing that wasn’t clear to me was I wouldn’t get the credit all at once. I only got about 60% of mine this year, read is rolled over to 2020 (2021 filing).
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gww687
Bio page
gww687
Joined
May 16, 2010
Last login
May 7, 2024
Total posts
4,435 (17 FO)
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Messages
Author
Time
Solar question about tax liability and whether it's worth it.
Zhenkar
6/1/20 10:26pm
You can have a tax liability and still get a refund. Have you done your 2019
Cougarmayn
6/1/20 10:39pm
<< Deleted >>
Zhenkar
6/1/20 10:58pm
Just checked. It was $0. I assume that means no tax liability?
Zhenkar
6/1/20 11:42pm
Basically, yeah, you don't have a liability. I'm guessing your child tax
Cougarmayn
6/2/20 7:33am
RE: Basically, yeah, you don't have a liability. I'm guessing your child tax
Zhenkar
6/2/20 7:37am
Yes, it was my child tax credits that covered it. You're correct!
Zhenkar
6/2/20 7:40am
Personally I think solar is a big crock unless you care more about going green
SlantRoute
6/1/20 10:41pm
This is unfortunately, often correct. Your home, where
The Pope
6/2/20 9:03am
I agree. Leaning towards not doing it, but doing my due diligence.
Zhenkar
6/2/20 9:08am
The solar tax credit is a non-refundable tax credit ....
VegasCoug
6/1/20 10:41pm
This is right. It's not refundable, meaning the credit applied in a single year
Cougarmayn
6/1/20 10:46pm
RE: This is right. It's not refundable, meaning the credit applied in a single
Zhenkar
6/1/20 11:09pm
Some tax credits are refundable and some are not
VegasCoug
6/2/20 5:50am
You would still take the CTC in the same year.
VegasCoug
6/2/20 6:00am
RE: You would still take the CTC in the same year.
Zhenkar
6/2/20 7:39am
RE: Solar question about tax liability and whether it's worth it.
gww687
6/1/20 10:48pm
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