Solar Tax Credits
All: I'm starting to seriously consider adding solar to my trailer now that our state is matching 60% of the federal energy tax credit. For those of you that have taken advantage of the tax credit...
Forum Discussion
Bumpyroad wrote:
that law was extended then expired at the end of 2013, did it get extended? I think at the time I asked the tax lady it hadn't been.
bumpy
The law has been extended through 2016 and Iowa will match 60% of the federal credit up to $5000. Effectively I get 48% of the total cost of my solar setup as a tax credit.
From everything I've read and the information here, it sounds like i simply total the amount of all the components and add them to IRS form 5695. It doesn't sound like anybody has included the cost of battery upgrades for their system as part of the tax credit. I'll consult my CPA on that, seems like the IRS ruled it is allowed but that doesn't mean it won't get red-flagged somehow.
Thanks for the help,
Fred
