Tentman
Level 3
04-06-2021
10:33 AM
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Can the credit be claimed for cost financed? I have a client that paid zero cost in 2020, solar equipment was installed in November of 2020. There is a financed amount of $37,556. If I enter the amount financed in proseries a credit of 26% is calculated, and taxes withheld are refunded; it seems way to good to be true.
Any advice will be very much appreciated.
Thanks
The Tentman
Labels
Level 15
04-06-2021
10:36 AM
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Financed is the same as paying for it...most people dont pony up the amount for solar, they finance it.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
PATAX
Level 15
04-06-2021
11:12 AM
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Lisa hit the nail on the head... I am preparing a return with this now...
Tentman
Level 3
04-06-2021
02:26 PM
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Thank you for your response. It does seem too good to be true.
tentman
PATAX
Level 15
04-06-2021
02:48 PM
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You sure are right about that tent man... Just another social program run through the tax returns...