Get Ma Schedule Ec 2024-2025

The Massachusetts Schedule EC form is required for individuals seeking the solar and wind energy credit for renewable energy source property installed in their principal residence. This guide provides step-by-step instructions on how to accurately complete the form online, ensuring users maximize their eligible credits.

Follow the steps to complete the MA Schedule EC effectively.

1. Use the ‘Get Form’ button to access the MA Schedule EC and open it in your preferred digital format.
2. Enter your name(s) as shown on Massachusetts Form 1 or 1-NR/PY at the top of the form.
3. Provide your Social Security number in the designated field.
4. Fill in your principal residence address in Massachusetts, ensuring to use the actual street address (not a PO box). Include city, state, and zip code.
5. Enter the costs associated with the renewable solar and/or wind energy source property installed in your principal residence for the year 2024 in line 1. Make sure to exclude repair or maintenance costs.
6. If applicable, enter any amounts received from a U.S. HUD grant or rebate for the expenditures in line 2.
7. Calculate your net expenditures by subtracting line 2 from line 1, and enter this amount in line 3; it cannot be less than zero.
8. Calculate 15% of your net expenditures from line 3 and enter this amount on line 4.
9. Input the maximum allowable credit for your principal residence on line 5a, which is $1,000.
10. If you have prior credits taken for this residence, enter this amount in line 5b.
11. Subtract line 5b from line 5a and enter the result in line 5c; this amount cannot be less than zero.
12. Determine your 2024 Massachusetts Energy Credit by entering the lesser of line 4 or line 5c on line 6.
13. If you have unused credits from previous years, enter them in lines 7a, 7b, and 7c.
14. Add lines 6, 7a, 7b, and 7c to find your available Massachusetts Energy Credit for this year and enter the total in line 8.
15. On line 9, note the total tax from Form 1, line 28 or Form 1-NR/PY line 32 minus any credits you may have.
16. Finally, enter the smaller value of line 8 or line 9 on line 10. Attach Schedule EC with your return before final submission.

Complete your MA Schedule EC online today for potential energy credits.