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Solar Credits


Marie

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Taxpayer put solar panels on his house in 2020, qualified for the residential 26% credit.  Couldn't use a lot of credits this year, I think it was misrepresented,  but  that subject has been discussed.  Now he wants to sell his home.  What happens to the left over credits?  He gets to keep using?  Can he sell to the new buyers?  

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21 hours ago, Marie said:

  He gets to keep using?  Can he sell to the new buyers?  

I haven't seen that situation addressed before. 

I don't believe it is a transferable credit.

Also not aware of any provision of tax law that would prevent carryforward by original owner.

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Hi Marie, I think you can carry to future to use, because if he had enough tax liability, then he could use them all.   So, he is the owner of the credits, he sold the house including the equipment, but since it was not new, the new owner cannot take it because it was not installed by the new owner.   How do you think?

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  • 3 weeks later...
On 4/1/2021 at 1:47 PM, KATHERINE said:

Hi Marie, I think you can carry to future to use, because if he had enough tax liability, then he could use them all.   So, he is the owner of the credits, he sold the house including the equipment, but since it was not new, the new owner cannot take it because it was not installed by the new owner.   How do you think?

sounds good , thank you 

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