Hey Dave,
We had solar put on our house this year. Is it tax deductible?
Lee
Lee,
A tax credit is available for qualified solar electric property costs and qualified solar water heating property costs. The Residential Energy Efficient Property Credit gives back up to 30% of your costs. It is a non-refundable credit, meaning that it cannot exceed your tax liability, but any unused credit generally carries forward. The credit is claimed on Form 5695 Residential Energy Credits, and more information on the credit can be found here.
Properly answering the questions in TurboTax will complete this form for you and enable you to claim the credit.
We hope the energy improvements work out for you.
Deductibly Yours,
Dave