Solar Tax Deduction?

[Alaskan Sea-Duction]

Question:

Is there a tax advantage/deductible for installing solar panels on your boat. Federal and/or State?

I know of tax deductions for installing solar on houses.

 

[HTurner]

Is your boat a primary or secondary home?
See:
https://turbotax.intuit.com/tax-tip...a-boat-or-rv-as-a-primary-residence/L0kjn8r1C


Solar Tax Credit:


https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D

 

[Bacchus]

I was under the impression that the Fed tax credit was for primary residence only but see I'm wrong... it can be primarynor secondary.
https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics
State credits may be different and worthy of checking.
I do see the credit reduces each year so timing is a factor.

 

[rslifkin]

As long as the boat meets the requirements to be considered a secondary home, you can claim the federal solar tax credit on it. I've got the paperwork together to claim it for my solar install this past year.

 

[OldDan1943]

Now that is an interesting question but, I personally do not want to attract the attention of the IRS or State.
I do believe, we can 'designate' which is primary.

 

[Seevee]

The problem with "tax deductions" is that you have to owe some tax to take advantage of them and have some kind of income.



For those of us that are broke and have no income, doesn't pay.


However, believe there's a year or two left of the solar deduction. I could make an argument to look at the whole price of the solar first, and figure out what dollars you're really saving with the tax deduction and make decisions accordingly.



Too many folks buy things just for a tax deduction which make little sense.

 

[Ka_sea_ta]

You can deduct solar for your secondary residence. The best part is that all the associated equipment also qualifies. This includes panels, controllers ,wiring and most importantly batteries. So if you hook a 12 watt solar panel to 4k worth of lifepo batteries it qualifies for the deduction.

 

[rslifkin]

You can deduct solar for your secondary residence. The best part is that all the associated equipment also qualifies. This includes panels, controllers ,wiring and most importantly batteries. So if you hook a 12 watt solar panel to 4k worth of lifepo batteries it qualifies for the deduction.

Almost. Batteries only qualify if they're only charged by the solar system. If you have a shore charger and engine alternators to charge them as well, they don't count the way the credit is written. However, controllers, mounting hardware, inverters, etc. all qualify.

 

[IRENE]

Credit

…and labor if you get some help on the install, as I did.

Concise summary here:

https://www.sunpoweredyachts.com/solartax-credits