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

Howie Michaelson howie at suncatchervt.com
Sun Mar 29 11:25:13 PDT 2015


I recently researched just this question, and from what I could gather
from the SEIA website and some other online references which I'm not
certain were up-to-date information, the residential tax credit can only
be rolled forward 1 year, which is very different than what I had read in
the past, and what I have told clients before.  Apparently there is more
flexibility using  the business tax credit. I may have misinterpretted the
information presented, but that is the best I could come up with. 
Certainly would appreciate hearing from someone more officially informed
that the credit can be rolled forward more than 1 year.

Howie

Larry Crutcher wrote:

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

-- 
Howie Michaelson
NABCEP Certified PV Installation Professional™

Catamount Solar, LLC
Renewable Energy Systems Sales and Service
VT Solar Electric & Hot Water Incentive Partner
http://www.CatamountSolar.com
802-272-0004








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