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Old 06-02-2016, 01:42 AM   #11
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Originally Posted by The Quilting Lady View Post
What about third homes>?
First have to collect gov. money to be able to affort that
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Old 06-02-2016, 06:54 AM   #12
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Most forms and IR Code sections are very misleading and vague, that is why the regulations and congressional meeting minutes are often used to determine the correct answer. Another reason is far too off topic to discuss here, but if you ever want to know ask me in person and I can enlighten you.
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Old 06-02-2016, 07:28 AM   #13
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As far as we see, the solar tax credit was extended to the end of 2016 and apparently then beyond that. And it applies to second homes, according to the solar tax credit's instructions for the form. It is not mentioned on the form but it is clear in the instructions. "The home does not have to be your main home," say the instructions on qualified solar.
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Old 06-02-2016, 09:22 AM   #14
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Pub #17 quote Residential energy credit. The nonbusiness energy property credit has expired. You can't claim this credit for nonbusiness energy prop- erty placed in service after 2014. You may, however, still be able to claim the residential en- ergy efficient property credit.
Congress did not extend the credit for 2015.........p243
https://www.irs.gov/pub/irs-pdf/p17.pdf
This is a bit off subject, but can you deduct the solar credit more than once? I put on solar last year(my home) and may want to add to it in the future.
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Old 06-02-2016, 01:07 PM   #15
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As far as we see, the solar tax credit was extended to the end of 2016 and apparently then beyond that. And it applies to second homes, according to the solar tax credit's instructions for the form. It is not mentioned on the form but it is clear in the instructions. "The home does not have to be your main home," say the instructions on qualified solar.
My Tax preparer say's she has used the solar tax credit on second homes a few times over the past years and so far it has never been disallowed.
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Old 06-02-2016, 01:19 PM   #16
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My Tax preparer say's she has used the solar tax credit on second homes a few times over the past years and so far it has never been disallowed.
Yes, the instructions say a second home is allowed. Have to use the instructions to know because they do not note that on the form. So when you see on the other page that some other items are only allowed for the main home, you can't know that solar credit is allowed for a second home unless you read the instructions. We have both prepared tax returns for others, many many years ago, and instructions are key.
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Old 06-02-2016, 07:41 PM   #17
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Yes, the instructions say a second home is allowed. Have to use the instructions to know because they do not note that on the form. So when you see on the other page that some other items are only allowed for the main home, you can't know that solar credit is allowed for a second home unless you read the instructions. We have both prepared tax returns for others, many many years ago, and instructions are key.
You explained it just like my Tax Lady . "Like minds"
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