Solar Tax Credit

[Piney999]

I know this has been covered before, but I have my Tax appointment today. If I got both an EV and new Solar, which tax credit do I claim first. I thought one needed to be claimed straight away, and the other could be claimed for up to 5 years, but I can't remember which one is which.

 

[ItsNotAboutTheMoney]

I know this has been covered before, but I have my Tax appointment today. If I got both an EV and new Solar, which tax credit do I claim first. I thought one needed to be claimed straight away, and the other could be claimed for up to 5 years, but I can't remember which one is which.

They are both non-refundable tax credits.
EV tax credit must be claim for the tax year in which you put your car in service.

 

[RoBoRaT]

I know this has been covered before, but I have my Tax appointment today. If I got both an EV and new Solar, which tax credit do I claim first. I thought one needed to be claimed straight away, and the other could be claimed for up to 5 years, but I can't remember which one is which.

EV Tax Credit now, and left over residential Solar ITC can be rolled over every year up to 2021 tax return.

 

[jruiz510]

EV Tax Credit now, and left over residential Solar ITC can be rolled over every year up to 2021 tax return.

When we mention solar are we talking about TESLA Solar panels or Solar roof? Are both eligible? I recently purchased a home in 2018 and installed 12 solar panels as part of the new residential contract... these panels were paid for and not leased just curious.

 

[RoBoRaT]

When we mention solar are we talking about TESLA Solar panels or Solar roof? Are both eligible? I

From Tesla.com:

Tax credit

The 30% Solar Investment Tax Credit applies to the cost of the solar tiles and associated solar energy equipment as well as the cost of the Powerwall batteries. To receive the full tax credit, you must have federal income tax liability that’s at least equal to the value of the tax credit. This credit may be carried over to future tax years. Additional state, local or utility solar incentives may apply but are not included in this calculation.

Tesla Solar Roof