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December 6, 2019
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Is the energy credit for solar panels for a sole proprietor 30% or 10%?

  • December 6, 2019
  • 6 replies
  • 44 views

My client is a sole proprietor.  He installed solar panels on his place of business.  Everything that I read gives  30% credit for solar panels but the Form 3468 only gives a 10% credit.

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Best answer by TaxGuyBill

Line 12a is for Geothermal Energy Property.

Enter it on Line 12b.

6 replies

December 6, 2019
What Line of Form 3468 is it showing up on?
brafeedieAuthor
Level 2
December 6, 2019
line 12a of the smart worksheet
brafeedieAuthor
Level 2
December 6, 2019
12b is for the K-1 for the 1065 and 1120S
brafeedieAuthor
Level 2
December 6, 2019
12a say geothermal and solar energy from other activities
December 6, 2019
Enter it where it says "Line 12b", and on the worksheet, it is on a line labeled "C".  I'll attach a picture to my answer below.
December 6, 2019

Line 12a is for Geothermal Energy Property.

Enter it on Line 12b.