Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

How much is the Business Solar Energy Credit for 2019-2022? Same as Residential? Also, this business is reported on a Schedule C, so is the credit reported on Form 3468?

jessicac
Level 2
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

4 Comments 4
George4Tacks
Level 15
@jessica Is this solar installation solely for the Schedule C, or are you referring to an office in home type of setting?

Answers are easy. Questions are hard!
0 Cheers
jessicac
Level 2
No, it is not an office in home. It is a small retail store, sole proprietorship.
0 Cheers
George4Tacks
Level 15

My crystal ball has no way of projecting beyond 2018 with certainty, but for right now - Yes this would go on 3468. You will find the current best guess for 2019 on the instructions for that form. https://www.irs.gov/pub/irs-dft/i3468--dft.pdf

From the What's New "Phasing out of certain investment credits. The Protecting Americans from Tax Hikes Act of 2015 has implemented the phasing out of the investment credit for solar illumination and solar energy property. The credit for solar illumination and solar energy property is reduced from 30% to 26% for property the construction of which begins after December 31, 2019. See Line 12c, later"


Answers are easy. Questions are hard!
0 Cheers
qbteachmt
Level 15
Everything is available on the web, of course:
https://news.energysage.com/congress-extends-the-solar-tax-credit/
*******************************
Don't yell at us; we're volunteers
0 Cheers