jessicac
Level 2
12-07-2019
09:30 AM
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George4Tacks
Level 15
12-07-2019
09:30 AM
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@jessica Is this solar installation solely for the Schedule C, or are you referring to an office in home type of setting?
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
jessicac
Level 2
12-07-2019
09:30 AM
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No, it is not an office in home. It is a small retail store, sole proprietorship.
George4Tacks
Level 15
12-07-2019
09:30 AM
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My crystal ball has no way of projecting beyond 2018 with certainty, but for right now - Yes this would go on 3468. You will find the current best guess for 2019 on the instructions for that form. https://www.irs.gov/pub/irs-dft/i3468--dft.pdf
From the What's New "Phasing out of certain investment credits. The Protecting Americans from Tax Hikes Act of 2015 has implemented the phasing out of the investment credit for solar illumination and solar energy property. The credit for solar illumination and solar energy property is reduced from 30% to 26% for property the construction of which begins after December 31, 2019. See Line 12c, later"
Here's wishing you many Happy Returns
qbteachmt
Level 15
12-07-2019
09:30 AM
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Everything is available on the web, of course:
https://news.energysage.com/congress-extends-the-solar-tax-credit/
https://news.energysage.com/congress-extends-the-solar-tax-credit/
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.