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buckleyf
New Member

How do I handle a downpayment on solar panels in 2019 that are not installed until 2020

 
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AnnetteB6
Expert Alumni

How do I handle a downpayment on solar panels in 2019 that are not installed until 2020

According to IRS Instructions for Form 5695, "For purposes of the credit, costs are treated as being paid when the original installation of the item is completed..."

 

This means that you will claim the total cost as part of your 2020 tax return if the installation is completed during 2020.  

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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AnnetteB6
Expert Alumni

How do I handle a downpayment on solar panels in 2019 that are not installed until 2020

According to IRS Instructions for Form 5695, "For purposes of the credit, costs are treated as being paid when the original installation of the item is completed..."

 

This means that you will claim the total cost as part of your 2020 tax return if the installation is completed during 2020.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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