F5695

Forum|Forum|5 years ago
April 18, 2021
5 replies
29 views

Doing 2019 with F5695. Return also has an NOL. Energy credit is carrying forward, not showing as a refund. It is not related to the business NOL. Did I do something wrong?

Can you help. I have researched and cannot find an answer.

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

Not a refundable credit, have to have tax liability to be able to utilize the solar credit...Ive got several clients that installed solar without telling me, only to find out they cant and probably wont ever be able to use this credit, unless they win the lotto or something.

S

sewcpa

Level 6

Aren't energy credits true credits (not refundable)? So that they only reduce the tax liability towards zero.

dkh

Level 15

If there is no tax liability to apply the energy credit towards then the credit is carried forward. It is not refundable.

Just-Lisa-Now-

Answer

Intuit Community Champion

Not a refundable credit, have to have tax liability to be able to utilize the solar credit...Ive got several clients that installed solar without telling me, only to find out they cant and probably wont ever be able to use this credit, unless they win the lotto or something.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

PATAX

Level 12

👍 Lisa , I wonder how many of those people were told that before they purchased it? Just wondering and just my opinion....

Just-Lisa-Now-

Intuit Community Champion

the salesmen are slick

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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