- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Thanks, I think that's very clear and certainly applies to the skylight/window as well.
Additionally, it occurs to me that the window part of the skylight might qualify for the section 25C credit for energy efficient home improvements, if it is EnergyStar approved. This credit is 10% of the cost with a maximum of $200 and a $500 lifetime cap, but in 2023 it will be increased to 30% of the cost with a maximum of $600 per year and no lifetime cap. Installation costs are not eligible, only the cost of the window.
If you can reasonably allocate part of the cost to an EnergyStar approved window, and part of the cost to solar power generation, you might claim both credits, but you can't claim the section 25D solar voltaic credit on the entire cost.