Solar Loan Interest Tax Deduction
Below is the response from the Credit Union on my Solar Loan>>>>>>>>>
We file a UCC-1 on the property for the equipment (panels); it gets a little tricky when it comes to these. In the event that something would go wrong, your structure does secure us to be paid back. I know in some cases you can use the interest however, as I mentioned, since these are not real estate loans and are considered consumer, there is no supporting 1099 for interest that will be sent to the IRS or you. I strongly recommend that you speak to your tax consultant on this as they will have a better understanding whether you are able to use the interest or not.