Federal Tax Credits for Solar PVC systems--Refundable?

European Socialist

(1000+ posts) Send PM | Profile | Ignore

Tue Oct-21-08 09:06 PM
Original message

Federal Tax Credits for Solar PVC systems--Refundable?

If not, how many years do you have to claim the total credit of $3000.

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Citizen Number 9

(878 posts) Send PM | Profile | Ignore

Wed Oct-22-08 01:32 AM
Response to Original message

1. $3,000? I think the cap has been removed by the bail out bill.

I suspect you have to claim in the year it goes into service.

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European Socialist

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Wed Oct-22-08 03:49 AM
Response to Reply #1

2. Right--In 2009 it is an uncapped 30% credit.

I guess I was thinking of a $10,000 system. Many of us don't come close to owing $3000 in federal taxes--I'm hoping the credit can be claimed over several years.

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