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Lesmir

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    AZ
  1. I have a new client that has form 5695 for solar panels purchased in 2023. I just noticed the previous tax prepaper made an errror and listed both a solar panel system installed and a qualified fuel cell property installed, both same purchase price of $50K. The client only installed solar panels. This gave the client a double 30% tax credit on their 2023 return. Client now has a wrong carryforward figure from 2023. Is is likely client will contact previous preparer for the correction and amendement only, as client would not incur any cost when he let's them know about the error made. The 2023 amendent would only change the solar credit carryforward amount, nothing else. Should I wait to file 2024, file an extension only for my client, to allow time for previous tax preparer to amend? Proceeed to file 2024 return (with wrong 2023 carryforwad figures in form 5695) and do my own 2024 amendement afterwards? Proceed to file 2024 return (with corrrect correct carryforward figures). What would be the best approach? Thanks in advance.
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