My wife and I are looking at getting solar, but the credit check was only done in my name, since both the wife and I are filling jointly and paying for it, just the credit check was done only in my name for a better interest rate. Does the tax credit come off the tax liability of both of us? Or just the person who the credit check was done for? I would assume it's both of us, but I am unsure. Thanks in advance.
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How you pay for the solar panels has nothing to do with how the credit is taken on a joint return.
When you file a JOINT return there is no his or her income or taxes... everything is combined into one. So your joint federal tax liability is covered by your joint credits. Who buys or pays for the solar panels makes no difference on a jointly filed income tax return.
Thanks!
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