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Deductions & credits
Yes, the Solar Energy Credit for 2017 includes installation costs like structures to support the panels. Note that the credit is capped at 30% of the cost (with no upper limit).
This
credit is limited to your income tax liability, so if you don't owe any income
taxes because your exemptions, standard or itemized deductions plus some other
credits take your income tax liability to zero, you won't get a benefit from
this credit. On a positive note,
however, the solar panel credit carries forward and can be used to offset
income tax liability in future years.
For more info, see:
- EnergyStar - Federal Tax Credits - Solar Energy Systems
- IRS Residential Energy Efficient Property Credit (Section 25D) at a Glance
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‎June 3, 2019
1:33 PM