Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Rental Solar Energy Credits
Rental Solar Energy Credits
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
11Buster
Level 4
10-08-2020
05:00 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Taxpayer installs solar panels on a rental property and allowed to take a credit under code section 48. Credit then is limited under the passive actively credit rules. Taxpayer moves into the property as principal residence. She can only take the carryover unallowed credits if a) she sells the property or b) re-rents the property in the future and has income from it, correct? However , I remember reading something in about recapture of any credit at time of conversion to principal residence....
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
11Buster
Level 4
10-09-2020
03:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Actually, I can answer for own question after further research. The issue before determining any deduction, in this case, is whether there is recapture of any credits taken previously, basically if the property is sold or changes character (rental>personal usage) within 5 years of the year the credit originated).
