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Level 2
March 30, 2022
Question

Solar Panels

  • March 30, 2022
  • 2 replies
  • 18 views

I put solar panels on my home in 2021. They roughly cost $23,000 but I am financing them like a mortgage. Blue Raven, the solar company said I can claim this and my federal tax credit would be $5,998. Even though I am financing them can I still claim this? 

    2 replies

    Level 15
    March 30, 2022

    Yes, when you took on the loan, it is considered the same as paying cash for it.  You have the liability to pay for the solar panels, so you can still take the credit. 

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    bhill_24Author
    Level 2
    March 30, 2022

    Great. Thank you