RE: Basically, yeah, you don't have a liability. I'm guessing your child tax

Sign up, and you'll be able to customize your font size and more! Sign up

Report problem with this ad

Jun 2, 2020
7:37:42am

Zhenkar Walk-on

RE: Basically, yeah, you don't have a liability. I'm guessing your child tax

Yeah, that makes sense. Our sales guy claimed we're grandfathered in to the credit for the next 5 years, regardless if it expires in 2022, but I don't know if that's true or just part of his sales pitch to get us to buy.

I will be speaking with a CPA, but I just wanted to get some thoughts on here. Thank you so much.

Report problem with this ad

Zhenkar

Bio page: Zhenkar
Joined: Sep 12, 2011
Last login: May 1, 2024
Total posts: 104 (0 FO)

Report problem with this ad

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

Report problem with this ad

Posting on CougarBoard

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

Report problem with this ad