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Omar
Level 2

Can I get a tax credit for solar if I buy a new home (new construction) for investment that includes solar panels?

The new home that I'll purchase for investment has solar panels and I am giving the option to lease or purchase them. From a tax perspective, if I purchase them, can I get the federal tax credit?

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TomD8
Level 15

Can I get a tax credit for solar if I buy a new home (new construction) for investment that includes solar panels?

If you buy a new home with solar panels installed, you are eligible for the federal solar tax credit.

If you lease the home or the panels themselves, you are NOT eligible for the credit.

The credit goes only to the owner.  If you lease, you're not the owner.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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3 Replies
TomD8
Level 15

Can I get a tax credit for solar if I buy a new home (new construction) for investment that includes solar panels?

If you buy a new home with solar panels installed, you are eligible for the federal solar tax credit.

If you lease the home or the panels themselves, you are NOT eligible for the credit.

The credit goes only to the owner.  If you lease, you're not the owner.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Omar
Level 2

Can I get a tax credit for solar if I buy a new home (new construction) for investment that includes solar panels?

I see, thanks. Any idea if could still claim investment credit for improvements to the property?
TomD8
Level 15

Can I get a tax credit for solar if I buy a new home (new construction) for investment that includes solar panels?

See this:  <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-3468-investment-credit/L886W...>
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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