Get Sc Sc Sch. Tc-38 2022-2025

The SC SC SCH. TC-38 form is essential for claiming tax credits related to solar energy, small hydropower systems, or geothermal machinery and equipment in South Carolina. This guide provides comprehensive step-by-step instructions to assist users in completing this form online with ease.

Follow the steps to successfully complete the form.

1. Click ‘Get Form’ button to obtain the form and open it in the online editor.
2. Fill in your name as the taxpayer in the designated field at the top of the form.
3. Enter your Social Security Number (SSN) or Federal Employer Identification Number (FEIN) in the appropriate field.
4. Provide the street address of the property where the solar energy system, small hydropower system, or geothermal machinery is installed.
5. Fill in the city, state, and ZIP code for the property location.
6. Select the type of system installed by checking the corresponding box: solar energy system, small hydropower system, or geothermal machinery and equipment.
7. Enter the total cost of installing the qualifying system in the line 1 field.
8. Calculate the maximum credit amount by multiplying the cost from line 1 by 25% and enter it in line 2.
9. If applicable, enter any amounts carried forward from previous tax years in line 3.
10. Add the amounts from lines 2 and 3 to determine the total credit available. Record this in line 4.
11. Input your annual credit limit in line 5 and calculate the maximum single-year credit amount for multiple facilities in line 6.
12. Determine the credit available by selecting the lesser amount between line 4 and line 6 in line 7.
13. Input your current year tax liability in line 8, then calculate the current year credit limit in line 9.
14. Identify the current year credit based on the lesser of line 7 and line 9 in line 10.
15. Calculate the credit carryforward by subtracting line 10 from line 4 in line 11.
16. Review all information for accuracy, then save changes, download, print, or share the form as needed.

Complete your SC SC SCH. TC-38 form online today to claim your tax credits.