Solar - 30% Federal Tax Credit I have a few questions:
If I paid $30,000 for a solar system and I am due a $9,000 Federal Tax Credit, how would the credit be applied in the following scenarios?
1) If I owe $1,000 to the IRS at the end of the year, would I get a check back for $8,000?
2) If I am due a refund of $1,000, would I get a check back for $10,000?
3) If all the stars align and I miraculously paid in exactly the amount of taxes I am supposed to and I owe zero to the IRS, would I get a check back for $9,000. |