COSkiBum
Level 3
‎03-14-2022 08:39 PM

Is there a tax credit for installing solar panels on a rental single family unit?  If so, where do I enter that information so that it links back to the Sch E.  If not, how would I depreciate it and for how long.  THX..

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Jim-from-Ohio
Level 11
Level 11
‎03-14-2022 09:08 PM

try this info: 

https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D

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TaxGuyBill
Level 15
‎03-14-2022 09:39 PM

Yes.  Form 3468.

There is no need to link it to Schedule E.

It is depreciated over 5 years.  The credit reduces the depreciable Basis BUT ... I have stuck in my mind that only 50% of the credit reduces Basis.  However, it is possible I am mixing that 50% part up with a different credit.

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COSkiBum
Level 3
‎03-22-2022 05:16 PM

Thank you Jim from Ohio.  

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TaxGuyBill
Level 15
‎03-22-2022 05:51 PM
@COSkiBum wrote:

Thank you Jim from Ohio.  

 

I don't think that link that Jim gave you had ANY pertinent information to your question.

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