Residential Energy Credits

[rose323]

I am preparing a return for a customer, and he paid 43k. Do I enter the full amount on line A or only a certain amount? please help first time dealing with the credit. It is giving the customer 13k more in refund. 

[rose323]

financing the solar 

[sjrcpa]

Look at the form and the instructions and see if the calculation is correct.  The solar credit is large.

[abctax55]

Or, review what was in your continuing education classes.

$ 43,000 x 30% = $ 12,900.

[abctax55]

financing the solar 

Relevance?

[TaxGuyBill]

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@abctax55 wrote:

financing the solar 

Relevance?

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None, but in my opinion I would rather have a person include 'extra' information (that they are unsure if is is pertinent or not) than asking a million questions to drag some information out of the person.  😂

[abctax55]

Bill, I tend to agree.  But not so much when the 'additional' info is irrelevant *and* is something the tax pro should know.

[rose323]

Wow community help can be quite harsh here sometimes. But I was rushing to give the information. Since we all have a busy season. 

[rose323]

Thank you, I figured this was the answer, but I just needed some assurance. 

[qbteachmt]

Don't confuse "he paid" and "financing" because borrowing money to pay is not part of this. The Cost of the system placed in service is what you should be using. How he paid (some downpayment, some borrowed, some with chickens) isn't part of the regulation.