Not the solar credit, the Investment Tax Credit (ITC) for businesses. The solar energy credit is reserved for your main residence, NOT a rental property. You may be able to take the Investment Tax Credit (ITC) using Form 3468, if you qualify. See page 4, for Line 7, under Qualifying Advanced Energy Project Credit.
- Sign into your TurboTax account > Search (upper right) > type form 3468 > press enter > select the Jump to ... link
- Menu selection is Wages & Income > Other Business Situations > Business Credits Start or Revisit > Investment credit Start or Revisit
- Regardless of your path begin to answer the questions and complete the section to receive your credit.
Yes, you must reduce your cost basis by the amount of the credit you receive
The details and qualifications can be reviewed here for the solar credit.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
