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

[August Goers]

I guess this just goes to show how confusing this issue is. DSIRE says the
following in the Summary section for the residential ITC:

"The excess credit may be carried forward until 2016, but it is unclear
whether the unused tax credit can be carried forward after then."

http://programs.dsireusa.org/system/program/detail/1235

And I can't really make out what the actual code is trying to say (see
section (2) Carryforward of unused credit):

http://www.gpo.gov/fdsys/pkg/USCODE-2011-title26/pdf/USCODE-2011-title26-s
ubtitleA-chap1-subchapA-partIV-subpartA-sec25D.pdf

Best,

August


-----Original Message-----
From: RE-wrenches [mailto:re-wrenches-bounces at lists.re-wrenches.org] On
Behalf Of Howie Michaelson
Sent: Sunday, March 29, 2015 11:25 AM
To: RE-wrenches
Subject: Re: [RE-wrenches] ITC - updated question on post-2016

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 ProfessionalT

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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