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We installed a home solar system. I need to file a Schedule C to receive depreciation benefits. Without a 1099K how do I get schedule c?

How do you add a Schedule C without first showing a profit?
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1 Reply
AmyC
Expert Alumni

We installed a home solar system. I need to file a Schedule C to receive depreciation benefits. Without a 1099K how do I get schedule c?

You can file a Sch C without profit. Just be sure you do show one soon. The IRS expects a business to make money 3 out of 5 years, otherwise it is a hobby. 

  • An office in home can only be deducted against income.
  • If the home solar system is part of your business, then you would add the Sch C, all the information and add the system as an asset to depreciate - except it is on your home and personal use.

 

A home solar system and a business schedule don't normally go together.  Perhaps you should reply with more information to make sure what you are doing is correct.

 

A home solar system should qualify for an home energy efficiency credit on the federal and maybe state returns. Energystar is a government agency with details.

 

See IRS Small Business 

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