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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- When to take Solar Credit
When to take Solar Credit
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martin-kathryn8
Level 1
02-11-2022
07:54 PM
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Is the credit for installing solar taken when installation completed or when the utility approves it? I can only find where the IRS Code says "an expenditure with respect to an item shall be treated as made when the original installation of the item is completed". Most articles online say it is complete when utility company gives permission, but I can't find anything official to back it up.
These are the specifics -
The install was actually completed on our main home in October 2021 and it was technically operational at that point. I needed permission to operate from my utility which I didn’t receive until 01/03/22 which is when I turned it on full time. The paperwork was turned in to the utility company on 12/30/21 and they approved it 01/03/22.
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