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iamsteve70
April 13, 2024
Question

TT says state of AZ owes me $1, 000 refund for a solar tax credit however Google says this is a credit only & used to reduce tax liability. Is TT correct?

  • April 13, 2024
  • 1 reply
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1 reply

V
Vanessa A
April 13, 2024

A nonrefundable credit results in a refund when you have paid in more than your liability after the credit.

 

So if you paid in $5,000 and your liability before the credit was $5,000 but now it is $4,000 because the credit reduced your liability you would get $1,000 back. 

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