On 10/20/22 3:04 PM, Tom Russ wrote:
I was wondering if there is any effect on home basis for claiming the solar tax credit for installing solar panels. As a concrete example, assume that installing such panels on one's home costs $20,000 and qualifies for the 30% tax credit ($6,000).
Is the basis in the home increased by the full $20,000 cost of the panels or only by $14,000?
$14K. This calculation is true for all the other energy related tax
credits as well.
--
Alan
https://taxtopics.net
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