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R
rose323
Level 5
January 27, 2023

Residential Energy Credits

  • January 27, 2023
  • 2 replies
  • 11 views

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. 

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    2 replies

    R
    rose323Author
    Level 5
    January 27, 2023

    financing the solar 

    sjrcpa
    sjrcpa
    Level 15
    January 27, 2023

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

    The more I know the more I don’t know.
      abctax55
      abctax55
      Level 15
      January 27, 2023

      Or, review what was in your continuing education classes.

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

      HumanKind... Be Both
        qbteachmt
        qbteachmt
        Level 15
        January 28, 2023

        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.

        Don't yell at us; we're volunteers
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