Remember 30% federal tax credit for Solar charging.

[craiginpetaluma]

If your on the fence about adding solar to your build sheet, include the 30% tax credit, for solar charging on your second home ( trailer )
I had my solar charging installed by AM solar and I was able to get my tax credit on the whole system cost, which included Inverter, up graded wiring.
I assume you could take the costs on your build sheet If ETI installs the solar??
But I don't know, has anyone done that.

The cost cost for for 2-160 watt titling panels, Trimetric SC-2030, Trimetric 2030 monitor, 600 watt inverter wired to one plug.
$2800
-$840 Tax credit
= $1960 total
A similar system installed by ETI
$ 1800
-540
$1,260 Total So does this mean you pay the " Canadian rate" and get US rate on the Tax Credit ? If so that's good.

Just thought I'd throw this out there, since I not seen this on the discussed forum

[fudge_brownie]

This has been discussed before, it looks like you can choose whatever deduction you want. It is a matter if it will past the "smell test" at the IRS. Frankly I believe they have bigger fish to fry than your solar deduction. Look here for prior discussion.

[cpaharley2008]

again it is only for your principal residence or main home.....you take your risks with claiming the tax credit/deduction, interest plus penalties from 5-25%, take you chances. Don't be surprised it you get a letter in the mail......just remember, our motto was "we are here to help you".....

[Santiago]

Originally Posted by fudge_brownie

This has been discussed before, it looks like you can choose whatever deduction you want. It is a matter if it will past the "smell test" at the IRS. Frankly I believe they have bigger fish to fry than your solar deduction. Look here for prior discussion.

Oh my God, those IRS related conversations were hilarious. Made my day.

Glenn ( gbaglo ) was funny as always, great sense of humor.
Dave ( ice-breaker ) was hillarious.

Jim ( CPAHarley2008 ) while not an IRS fan, I admire your dedication, long career and professional standing.

[dmetz]

Researched on Turbo Tax and RVs qualify.

[cpaharley2008]

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

[float5]

According to the IRS instructions for form 5695, the nonbusiness energy property tax credit was extended to December 31, 2016, under What's New. This is not correct?

[cpaharley2008]

Good to know and if you read the reverse of form 5695, it has to be your main home to qualify...See line #17A https://www.irs.gov/pub/irs-pdf/f5695.pdf

[float5]

Originally Posted by cpaharley2008

Good to know and if you read the reverse of form 5695, it has to be your main home to qualify...See line #17A https://www.irs.gov/pub/irs-pdf/f5695.pdf

That is correct for Part II that it is only for your main home, so I should not have asked about that. Fuel cell credits are also only for the main home, I believe.

Solar electric comes under Part I. The instructions for that form for 2015 say that that includes second homes but not rental property.

You can also see that that second homes are said to be included for the solar credit on the energystardotgov site.

The form you are looking at is very misleading because Part II covers other items of energy efficiency, and credits for those are only for the main home. At least, that is what it looks like to us.

[The Quilting Lady]

What about third homes>?

[Marry]

Originally Posted by The Quilting Lady

What about third homes>?

First have to collect gov. money to be able to affort that

[cpaharley2008]

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.

[float5]

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.

[Scuba55]

Originally Posted by cpaharley2008

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.

[craiginpetaluma]

Originally Posted by float5

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.

[float5]

Originally Posted by craiginpetaluma

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.

[craiginpetaluma]

Originally Posted by float5

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"