- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I own a rental property that has leased solar panels on the property. Am I allowed to deduct the monthly lease payment for the panels as an expense?
I know you cannot claim the credit since the solar lease company does. However I wasn't sure if the lease payment qualifies as a rental utility expense, which would be deductible.
Topics:
June 4, 2019
1:56 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Yes, you are allowed to deduct reasonable and necessary expenses for your rental. If you didn't have solar panels you would have to pay utility bills, so they are a utility expense.
On the flip side, if you get paid for excess electricity generation, you will need to declare the income (or reduce your utility expense).
June 4, 2019
1:56 PM