Thanks for your inputs here much appreciated. I extrapolated that if I didn't have home ownership I wouldn't have a basis to adjust as my explained in IRS instructions.
But I'm okay with ownership point and just to be clear, in your mind if I were a resident in a home that just so happen to be owned by three people including me (I get ownership doesn't matter), that I could pay in full for a solar system and be entitled to full credit?
Also, another question, in your mind, can I take a solar geothermal hot water heater credit in 2022 at 30% and then in 2023 install solar panels and system and get the solar credit for those costs? I ask as the form aggregates all 30% eligible items and I see multiple references saying you can only take the solar credit once. I want to ensure that they are not essentially saying whatever you spend on aggregate in a given year you cannot get credit in any subsequent spending for other solar items (on different lines under 30%category). I get if I install a solar system this year I can't claim it again next year bor no necessarily additions thereof ). Simply stated if installed qualifying geo thermal hot water heater in 2022 and take the credit and in 2023 I installed on solar panels can I take solar credit for panels in 2023?
Finally, an unrelated question - since you have good understanding on need for ownership etc - Again my example, I am one third owner in house - Can I pay for and then deduct 100% of the real estate taxes (subject to limit) and same with Mortgage interest or am I limited to max of one third deduction since I am really paying someone else's obligations for their balance. Again to me tax publication and instructions not as clear - old days you could deduct what you paid up to what you were liable for. Today, suspect this may be simpler - could you please share your thoughts on this as well. Thanks again for sharing your thoughts on all of this.
