Client installed solar panels in 2009. He could not use the whole credit so it has been carried forward to 10, 11, and future years. The house has been sold in a foreclosure auction in November 2011. Does he have to recapture the credit? or stop the carryforward because he no longer owns the property? Or because he installed the solar panels while he owned it he should still get the full credit by taking a little bit each year until it is used up. I would assume he could still take it because if he could have used in full in 2009 he would have and I don't believe it would have to be recaptured. Any thoughts? I could not find anything about recapturing energy credits.
Thanks!
GTS1101
Thanks!
GTS1101