I apologize if this is a common question. I did look a little and didn’t find an answer.
We are looking to do a diy install of a 6kw system on our garage roof. We have been talking to wholesale solar and it looks to be about a$9000 investment.
My question is about taxes. The way we have our withholding set up, we receive a refund of about $2500 each year when we file our returns. With the 30% federal tax credit, would this mean that we would get a refund of roughly $5500 or am I missing something? Obviously, this is a deciding factor. Any help or advice would be greatly appreciated.
We have done our own taxes with TurboTax so me do not have an accountant to ask. Thanks in advance for any help or advice!
Maybe this will help: We are married with 1 child and own our home. The mortgage interest has never been enough to factor into our taxes. The standard deduction is always the best number. We put 0 for deductions on our federal tax forms. Our household earns about $100k/year