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Level 4
June 8, 2024
Question

Federal Solar Credit

  • June 8, 2024
  • 1 reply
  • 6 views

Can you get a Federal Solar Credit for leased property or does it have to have been purchased?

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1 reply

qbteachmt
Level 15
June 8, 2024

Leased solar panels = no. That credit goes to the owner.

Leased real estate = possibly. A renter can take the credit for improving a property they live in, even if they don't own it.

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jamessiteAuthor
Level 4
June 8, 2024

Thanks

 

But I see on NY State the leased property can be given a small credit.

qbteachmt
Level 15
June 9, 2024

You first asked: "Can you get a Federal Solar Credit for leased property or does it have to have been purchased?"

Here is the info for NY:

https://www.tax.ny.gov/pdf/current_forms/it/it255i.pdf

Don't yell at us; we're volunteers