3232713
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I purchased a Genera for my home can claim it on my taxes as a deduction

i purchased a generac for my home can i claim as a deduction for my home
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
Carl
Level 15

I purchased a Genera for my home can claim it on my taxes as a deduction

NO, not directly. Assuming this is a permanent type of installation that becomes "a physical part of" the property (i.e.; not a portable generator) the cost just gets added to the cost basis of your home. So you won't report this anywhere on your taxes until the tax year you sell or otherwise dispose of the property, or convert it to some type of business use, such as a rental property.

As far as I know, a generator doesn't qualify for any energy credits. See https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit for details.

 

AnnetteB6
Expert Alumni

I purchased a Genera for my home can claim it on my taxes as a deduction

No, in general, a home generator does not qualify as a tax deduction or as a home energy credit improvement.

 

However, if you are either renting a part of your home or you have a qualified home office, then the cost of the home generator could be included as a 'whole home' expense or a 'whole home' asset to be depreciated.  

 

Also, the generator may qualify as a medical expense if it is required to run medical equipment deemed necessary by a doctor.  

 

@2020olympian 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question