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Old 10-20-2017, 08:37 PM
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Solar Tax Credit and Depreciation

I bought a house in 2017 and it will be my primary residence for 2017 and 2018. It will be a rental property 2019 and beyond. I plan to have solar installed in 2018 which will cost around 100k. Can i claim the tax credit for 2018 when it is my residence and then when it is a rental in 2019 deduct depreciation on it?



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Old 10-22-2017, 11:19 AM
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I bought a house in 2017 and it will be my primary residence for 2017 and 2018. It will be a rental property 2019 and beyond. I plan to have solar installed in 2018 which will cost around 100k. Can i claim the tax credit for 2018 when it is my residence and =========>> You are eligible for the Federal ITC, the solar tax credit as long as you own your solar energy system, rather than lease it. You can't claim a credit for installing solar power at rental properties you ownYou are also eligible even if the solar energy system is not on your primary residence as long as you own the property and live in it for part of the year, you can claim the solar tax credit.


then when it is a rental in 2019 deduct depreciation on it?=========>>YES in 2017 and 2018; ONE of the largest possible expenses on yoursch E is depreciation. When claiming depreciation on a rental property, it's important to use only the value of the structure on the property and not the land value of the property. The IRS states that landlords can claim a useful value of a house for 27 years and 6 months.



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