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how do you treat income from residential solar panels received from sale of excess energy generated.

dbassociates
Level 1
 
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Terry53029
Level 11
Level 11
jeffmcpa2010
Level 7

Did they get a 1099 or any other statement indicating that there is TAXABLE income?

With the little information provided I will reference what we have/had in my state where power companies were required to purchase excess residential solar power from a qualified homeowner's system. 

Never thought about this before, but I have not seen anyone report the payment from that - it just went to paying down the loan they took out to install the solar.

not sure if that helps at all.

 

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jeffmcpa2010
Level 7

never mind

Terry had better information

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