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F5695

taxes96786
Level 9

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.

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1 Solution

Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

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♥¸¸.•*¨*•♫♪

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5 Comments 5
sewcpa
Level 5

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-
Level 15
Level 15

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 15

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

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Just-Lisa-Now-
Level 15
Level 15
the salesmen are slick

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪