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Solar Tax credit when the installation spans across two years
My solar system installation started in 2022 but will only finish in 2023 due to unforeseen delays. Part of the payment for the system was done in 2022, while the balance will be done in 2023 post completion of work. As I'm allowed to claim solar tax credit only once, my options are
1. Claim the complete solar tax credit in 2022 taxes even though I have not made the complete payment.
2. Claim solar tax credit in 2022 taxes for the amount that has already been paid, but I would not be able to get tax credit on the balance amount paid in 2023.
3. Claim the complete solar tax credit in 2023 taxes even though only partial payment was made in 2023.
Are there any other options? What would you recommend?
Thank you
Topics:
‎December 24, 2022
3:39 PM