<div dir="ltr">I just looked over my 1040 and indeed the credit is subtracted BEFORE the self employment tax is added in.  At first blush, it appears to be the case.  If you have enough 1099 income, the tax credit would apply to taxes paid on that income...i think?<br></div><div class="gmail_extra"><br><div class="gmail_quote">On Fri, Mar 27, 2015 at 10:25 AM, Dave <span dir="ltr"><<a href="mailto:dave@independentpowerllc.com" target="_blank">dave@independentpowerllc.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div link="blue" vlink="purple" lang="EN-US"><div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Sounds like BS. Earned income is earned income. I am self employed and have taken the 30% ITC on solar for my own home.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">David Palumbo <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Independent Power LLC<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">462 Solar Way Drive<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Hyde Park, VT 05655<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><a href="tel:802-888-7194" value="+18028887194" target="_blank">802-888-7194</a><u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><div style="border:none;border-top:solid #b5c4df 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> RE-wrenches [mailto:<a href="mailto:re-wrenches-bounces@lists.re-wrenches.org" target="_blank">re-wrenches-bounces@lists.re-wrenches.org</a>] <b>On Behalf Of </b>Kristopher Schmid<br><b>Sent:</b> Friday, March 27, 2015 11:15 AM<br><b>To:</b> RE-wrenches<br><b>Subject:</b> [RE-wrenches] ITC<u></u><u></u></span></p></div><div><div class="h5"><p class="MsoNormal"><u></u> <u></u></p><div><p class="MsoNormal">I have been told by a client who was told by his tax advisor that the 30% tax credit does not apply to self employment tax.  Can anyone confirm or deny this assertion?<br clear="all"><u></u><u></u></p><div><p class="MsoNormal"><br>-- <u></u><u></u></p><div><div><p class="MsoNormal">Shine On!<br><br>Kris Schmid<br>Legacy Solar, LLC<br>864 Clam Falls Trail<br>Frederic, WI 54837<br><a href="http://www.legacysolar.com/" target="_blank">www.legacysolar.com</a><br><a href="tel:715-653-4295" value="+17156534295" target="_blank">715-653-4295</a><br>NABCEP Certified PV Installer<br>Licensed Wisconsin Master Electrician<br>BSEE<u></u><u></u></p></div></div></div></div></div></div></div></div><br>_______________________________________________<br>
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<br></blockquote></div><br><br clear="all"><br>-- <br><div class="gmail_signature"><div dir="ltr">Shine On!<br><br>Kris Schmid<br>Legacy Solar, LLC<br>864 Clam Falls Trail<br>Frederic, WI 54837<br><a href="http://www.legacysolar.com/" target="_blank">www.legacysolar.com</a><br>715-653-4295<br>NABCEP Certified PV Installer<br>Licensed Wisconsin Master Electrician<br>BSEE<div style="padding:0px;margin-left:0px;margin-top:0px;overflow:hidden;word-wrap:break-word;color:black;font-size:10px;text-align:left;line-height:130%"></div></div></div>
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