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Electric vehicle credit is limited to the current year, can you elect to use the vehicle credit first therefore allowing the REEP credit to carryover.

sp
Level 1

client does not have enough tax to use both electric vehicle credit and residential solar credit.  Can he elect to take the vehicle credit first then carryover the REEP Credit?

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George4Tacks
Level 15

I agree with TaxGuyBill. Lacerte does a good job ordering the credits and I think you will get your wish. 


Answers are easy. Questions are hard!

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2 Comments 2
TaxGuyBill
Level 15
There is no election, but if I remember correctly, the ordering depends on if it is a business or personal credit.
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George4Tacks
Level 15

I agree with TaxGuyBill. Lacerte does a good job ordering the credits and I think you will get your wish. 


Answers are easy. Questions are hard!
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