Section 48 ITC

[JECReady]

Solar investment tax credit under Section 48.

Does a single-family residence (not new construction) rental property qualify for this tax credit?

The credit is often referred to as section 48 commercial property credit - the name would seem to imply that a single-family (rental) residence property then does not qualify. Unless - a single-family residence (rental) can be considered a commercial property?

I can't find anything from any reliable source that explicitly says that this type of property would or would not qualify.

If this type of property does qualify for the Section 48 credit, do we just pick it up via form 3468 when filing the personal income tax return/schedule E?

Thank you.

[TaxGuyBill]

Yes, it qualifies for a rental property.

Yes, use Form 3468.

Keep in mind that HALF of the credit reduces the Basis.