ronobrien
Guru
I am curious about that. If you are correct it would seem to bar many individuals from receiving the credit. Any CPA's out there?
Federal Tax Credit for Solar on Boat
- Thread starter Senojev
- Start date
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Hippocampus
Guru
- Joined
- Jul 27, 2020
- Messages
- 3,915
- Location
- Plymouth
- Vessel Name
- Hippocampus
- Vessel Make
- Nordic Tug 42
Have done two houses to get to zero footprint. In that setting even with batteries as an ancillary if power goes out a credit was offered. In our town given in order to have any power run to the house once you’re connected to the grid we were forced to sell our power back to the grid. With that it made sense to have a propane genset and slip the batteries. However in a boat that isn’t operative. He credit was available at fed and state levels.
Current boat already had panels at time of purchase.
My question is for a federally documented boat are there any state credits. With the house we recently built the state credits were quite significant.
Current boat already had panels at time of purchase.
My question is for a federally documented boat are there any state credits. With the house we recently built the state credits were quite significant.
OldDan1943
Guru
- Joined
- Oct 2, 2017
- Messages
- 10,599
- Location
- USA
- Vessel Name
- Kinja
- Vessel Make
- American Tug 34 #116 2008
Sadly, even if the IRS does know about solar panels and wiring, they can question your deduction and say "Prove it."
I try not to attract the attention of the IRS.
I am not worry if the IRS tells me to prove my boat qualifies as a 2nd house. They wrote the rules, I satisfy the both the written and the spirit of the regulations.
I try not to attract the attention of the IRS.
I am not worry if the IRS tells me to prove my boat qualifies as a 2nd house. They wrote the rules, I satisfy the both the written and the spirit of the regulations.
I would think if one is a resident in a state and the boat is in that state, then one could get state credits, if the state law allows a boat as a home. If the boat was kept in another state or country, it would seem that getting tax credits from a state where the boat does not reside, would be problematic.
Later,
Dan
