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March 6, 2021
Question

Sky Light tax credit calculation

  • March 6, 2021
  • 1 reply
  • 0 views

Bought $3,200 in 2020 to upgraded energy efficient skylights & only received $45 in tax credit? Doesn't look like 10% of material purchased. What's the calculation I'm missing here?

1 reply

Employee
March 6, 2021

This is a nonrefundable tax credit, which means you will not get a tax refund for the amount of the tax credit that exceeds your tax liability.