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Get your taxes done using TurboTax
That's depreciation. And you can depreciate business assets. So what they are suggesting that you do is create a self-employed business within your tax return that sells electricity and has solar panels as the tools that it uses to do that.
The problem that you have is that you don't have any income from this business. The IRS expects a business to be a profit seeking enterprise if they are going to give you credit for a depreciation deduction. Do you receive statements from the electricity company showing the equivalent payments that you are earning so you could enter that as income?
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‎April 2, 2025
11:51 AM