BCinDC
Returning Member

Deductions & credits

Hi there - bringing this old thread back to life with a new question about SRECs.  I received $1,600 in SRECs this year, which I will claim on my taxes (though I have not yet received a 1099 yet from the company that purchased them).   However, I also had $1,495 worth of repairs to my system in January (I had to replace my inverter), so my net income after repair costs was only $105.

 

Can I deduct the repair costs from the income?  And if so, how do I do this?  Do I just claim $105 as Miscellaneous Inocme somewhere?  Or is there a different way to show it?