You'll need to sign in or create an account to connect with an expert.
From IRS Form 5695 instructions - https://www.irs.gov/pub/irs-pdf/i5695.pdf
Main home.
Your main home is generally the home where
you live most of the time. A temporary absence due to special
circumstances, such as illness, education, business, military
service, or vacation, will not change your main home.
For the Residential Energy Efficient Property
Credit the tax code does not specify that you have to own the home, only that it is your residence.
To enter the Home Energy Credits -
From IRS Form 5695 instructions - https://www.irs.gov/pub/irs-pdf/i5695.pdf
Main home.
Your main home is generally the home where
you live most of the time. A temporary absence due to special
circumstances, such as illness, education, business, military
service, or vacation, will not change your main home.
For the Residential Energy Efficient Property
Credit the tax code does not specify that you have to own the home, only that it is your residence.
To enter the Home Energy Credits -
Hey I want to know the answer to this too. My wife is trustee to a house we live in. She has power to sell it, but is still in a trust. Can we claim the solar credit by filing taxes and get credit from our income tax for living there?
Sorry ... but you must OWN the home to take the credit ... the instructions clearly says "You must reduce the basis of your home by the amount of any credit allowed. which can only be done if you own the home.
From the IRS instructions :
Who Can Take the Credit
You may be able to take the credit if you made energy saving improvements to your home located in the United States in 2018.
Home.
A home is where you lived in 2018 and can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home that conforms to Federal Manufactured Home Construction and Safety Standards.
You must reduce the basis of your home by the amount of
any credit allowed.
Main home.
Your main home is generally the home where you live most of the time. A temporary absence due to special circumstances, such as illness, education, business, military service, or vacation, won't change your main home.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
bigmamaconstance11
New Member
nf123
New Member
cnhowardcell
Returning Member
humanilla
New Member
floridadrakes
New Member