Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Solar panel credit
Solar panel credit
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Chata
Level 1
02-12-2023
07:06 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Can rental homes receive the 30% solar panel credit for 2022? Can they also depreciate the solar panels? If so, what would be the life of the asset?
Labels
2 Comments 2
revetaxes
Level 2
02-12-2023
10:03 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes, rental homes can receive the 30% federal solar tax credit for 2022. The tax credit applies to both residential and commercial properties, including rental homes, as long as the solar panels are installed on the property for the purpose of generating electricity for that property.
It should be depreciated over 27.5 years.
TaxGuyBill
Level 15
02-12-2023
10:58 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Check out Form 3468.
The panels themselves are generally considered 5 year property. I suspect because the panels are 5 year property (§1245), the electrical work to and from it also would be 5 years, as well as the other 'stuff' associated with it before it goes into the house or grid.
