[RE-wrenches] ITC - updated question on post-2016

Larry larry at starlightsolar.com
Fri Mar 27 17:07:41 PDT 2015


The tax credit can be carried back one year and forward 20 years. Unless 
the credit is extended, it applies to systems placed in service on any 
dwelling unit by Dec. 31, 2016.


Thank you,

Larry Crutcher
Starlight Solar Power Systems

On 3/27/15 4:41 PM, August Goers wrote:
>
> Hi Wrenches,
>
> Since we’re on the topic of the ITC, I have another question someone 
> might be able to help with. Assuming that a system is placed into 
> service prior to the end of 2016, it should qualify for the 30% tax 
> credit. Some people do not have enough tax liability to take the whole 
> credit in the same year of the installation and I believe they 
> typically have 5 years to take the credit. Do this apply to post-2016 
> as well? In other words, if a system is placed into service in 2016 
> but the owner doesn’t have a tax appetite until sometime after 2016, 
> can they still take the tax credit (within 5 years)? I’m assuming the 
> answer is yes, but thought some of you might be more versed in the tax 
> code.
>
> Thanks,
>
> August
>
>
>
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