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L
lildemonjj
April 14, 2024
Question

Solar deduction states "The tax credit is 30% of the costs for assembly, preparation, and installation as well as piping/wiring."Can I deduct payments made this year?

  • April 14, 2024
  • 1 reply
  • 0 views
Solar installed in 2022, only payments made this tax year. No other costs.

1 reply

KrisD15
KrisD15
April 14, 2024

If the improvement was installed in tax year 2022, that is the year you would need to use to apply for the credit.

Although you did not pay until 2023, you no doubt signed an agreement and were obligated to pay in 2022 when the install was done. 

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