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Author Topic: Solar Tax Credit Carry Over to 2017?  (Read 2265 times)

Greystache

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Solar Tax Credit Carry Over to 2017?
« on: December 15, 2015, 07:32:52 AM »
I am planning to buy solar in 2016. The total cost is around $17K with a Federal Tax credit of around $5K.  My projected Federal income tax for 2016 will be about $3.5K.  If the solar tax credit is allowed to expire at the end of 2016, will I still be able to carry over part of the tax credit into  2017?  I have searched the web and IRS publications, but I cannot find any definite guidance on this. 
Edit: The solar tax credit was extended yesterday.  Never mind.
« Last Edit: December 22, 2015, 10:35:50 AM by Greystache »
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TomTX

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Re: Solar Tax Credit Carry Over to 2017?
« Reply #1 on: December 17, 2015, 05:28:06 AM »
When I investigated it looked like "probably not" but without really good guidance.

It's looking good for the tax credit to be extended for at least a few years with the latest budget deal announcement, but....  nothing is certain til the Prez signs off.
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terran

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Re: Solar Tax Credit Carry Over to 2017?
« Reply #2 on: December 17, 2015, 08:00:27 AM »
If you have any money in traditional IRAs you could look into converting that to roth to bring up your tax due to then apply the credit. Double check that this will work by doing a dry run with some tax software before you make a decision based on it though.
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