Solar panels on rental property

[ddagnall1]

In ProSeries Basic:  Client installed solar panels on rental property in 2023.  How do we enter for depreciation?

[Just-Lisa-Now-]

There's something in the back of my brain that I remember from my CE classes about Landlord Solar Credit? the class was moving fast and I figured Id do more digging if situation presented itself in the future.  Im at home without my CE book, so I cant grab the reference for you, sorry.

You may want to do some research on what options are available for solar installation on a rental.

[TaxGuyBill · Accepted solution]

Solar credit on Form 3468.

Reduce Basis by HALF of the credit.

Solar is generally five year property.  The panels themselves (and probably the inverters) are definitely five year property and in my opinion the rest of the stuff is also five years because they are 'connections' to the solar panels.

[ddagnall1]

Thank you for your help.  I appreciate your time and expertise.