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Old 08-01-2016, 10:52 AM   #1
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Tax credit for solar system?

I am seeing conflicting reports of whether one can claim 30% tax credit for a solar system installed on a qualified secondary home (RV with toilet, cooking facilities etc.) Have you successfully claimed this credit?
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Old 08-01-2016, 12:05 PM   #2
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We did a few years ago. The law has changed, see Tax Credit — AM Solar
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Old 08-01-2016, 12:12 PM   #3
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I did just this year .. ( last years taxes) Totaled all the parts I bought and gave the numbers to our accountant. Which he deducted with no problem.
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Old 08-01-2016, 12:34 PM   #4
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These say you can:

https://ttlc.intuit.com/questions/28...dress-do-i-use

http://ecx.images-amazon.com/images/I/81nlKo-T5dS.pdf
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Old 08-01-2016, 12:39 PM   #5
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Yup. Doable.
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Old 08-01-2016, 01:06 PM   #6
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Yes, you can take the credit. Make sure you have all the documentation that shows how much you have spent to put solar on your rig. If you ever got audited you would need the documentation.

Remember this is not a deduction, but rather a tax credit. In other words you do not have to itemize to take advantage of the credit. You get the credit directly against your federal income taxes.
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Old 08-03-2016, 10:23 AM   #7
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Quote:
Originally Posted by wnytaxman View Post
Yes, you can take the credit. Make sure you have all the documentation that shows how much you have spent to put solar on your rig. If you ever got audited you would need the documentation.

Remember this is not a deduction, but rather a tax credit. In other words you do not have to itemize to take advantage of the credit. You get the credit directly against your federal income taxes.
Any advice on how to handle question at line 17a, Form 5695 that asks if improvements were to your main home in USA? If no, says you can't take the credit. I am not going to lie to the IRS.
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Old 08-03-2016, 10:47 AM   #8
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Originally Posted by dlovitt View Post
Any advice on how to handle question at line 17a, Form 5695 that asks if improvements were to your main home in USA? If no, says you can't take the credit. I am not going to lie to the IRS.
I think you'll have to look deeper into the forms. No one said 'main home,' an RV qualifies as a 'second home.' Consult a tax professional to see how it's done.
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Old 08-03-2016, 11:51 AM   #9
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The main home question doesn't have anything to do with your solar installation. That question is in regards to qualified fuel cells which is a whole different animal. You are fine taking the credit on your RV assuming you bought the solar in 2016.

If you check out the instructions to the form you'll see that the instructions say that the solar does not have to be on your primary home.

Hope that helps.
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Old 08-03-2016, 12:39 PM   #10
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It also does not mater when you buy the equipment, you can take the total costs as basis on the year you install.
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Old 08-04-2016, 07:36 AM   #11
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It also does not mater when you buy the equipment, you can take the total costs as basis on the year you install.
You are correct Sehc. I should have noted that in my post. The rule is date placed in service or installed and used to be more precise.
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Old 08-04-2016, 10:47 AM   #12
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i read that it does not limit to a brand new install. as only as you buy a single piece of panel for your install or upgrade, it qualifies the credit.
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Old 08-04-2016, 11:07 AM   #13
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Solar deduction

Has anyone tried to deduct the labor to install the solar system?
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Old 08-04-2016, 11:12 AM   #14
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Has anyone tried to deduct the labor to install the solar system?
It's technically a credit. If your labor, don't think so. If you paid someone to install, it should be a part of your cost of which 30% can be used as a credit against your tax liability.
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