I paid off solar lease on my rental property. How can I write off this expense?

posted

It depends. If you have been treating the lease as a monthly rental expense for the rental, then you can deduct the amount you paid as a rental expense. However, if you now own the solar property, then the cost should be set up as an asset for the rental property and subject to depreciation.

See here for more information from TurboTax about rental property depreciation.

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