Capital credits are a return of money paid for electricity in a previous year and are generally not taxable income for residential consumers—unless the electric bills were deducted for tax purposes. Businesses may be subject to different IRS guidelines. Members should consult a tax professional for questions related to income tax filings—Kay Electric does not provide legal, tax, or accounting advice and this information is provided as a courtesy.
Do I have to claim capital credits as income on my taxes?
