1040 client installed solar property during 2018. They entered into a "Sell All, Buy All" arrangement with the their electric company. It appears that they don't qualify for the Residential Energy Credit because they are not using at least 80% of the energy produced. Where is the income from the sale of the energy reported? Also, would the solar property be eligible for the 30% Energy Credit on Form 3468 Line 12b?
Announcement
Collapse
No announcement yet.
Solar Credit for Solar Property used in Sell All, Buy All arrangement
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.