Full time and solar tax credits

[Jims94vmx]

Anyone full timing and able to get the credit? When doing my taxes this year it specifically asked if I installed solar at my residence. Since I have a "box number" for a residence I did not pursue.

Additionally my second question is............. can I do a conversion from a regular IRA to Roth IRA in order to take advantage of the credit?

 

[Second Chance]

Jim,

I thought I remembered a thread on this and did a search. There is a short discussion here (with a couple of affirmative answers) and a link with more information:

https://www.mygrandrv.com/forum/showthread.php/11638-Solar-tax-credit-for-RV-s-interesting-information?p=111769#post111769

Rob

 

[Johnww]

Why would you seek tax advice on an RV forum.? I suggest that you contact a CPA who can provide you with accurate tax advice.

 

[Jims94vmx]

Thanks Rob. Will look at link.

 

[Jims94vmx]

Why would you seek tax advice on an RV forum.? I suggest that you contact a CPA who can provide you with accurate tax advice.

Just looking to see who may have already blazed the trail. Besides we could have 100 members who were CPAs.

 

[Jerryr]

Why would you seek tax advice on an RV forum.? I suggest that you contact a CPA who can provide you with accurate tax advice.

This would be my first place to ask. Next would be a call to the IRS. You probably would get more accurate info here vs the IRS.

When looking for info on federal tax credit for my EV I went to an EV forum. Now that I’ve claimed the credit 4 times for $30,000 in tax savings I can provide first hand knowledge to others.

 

[JeffOfBoise]

Just looking to see who may have already blazed the trail. Besides we could have 100 members who were CPAs.

I am a member who has been a practicing CPA for 40 years.
Yes, you can claim the solar tax credits for your RV as it is your primary or second residence. Your box number is not your residence.

Any unused solar credit does carry over to the future until used up. You could convert from a traditional IRA to Roth IRA to create enough income to use up the solar credit but it would be in 2022 not retroactive.

JeffofBoise

 

[trailrydr]

I am a member who has been a practicing CPA for 40 years.
Yes, you can claim the solar tax credits for your RV as it is your primary or second residence. Your box number is not your residence.

Any unused solar credit does carry over to the future until used up. You could convert from a traditional IRA to Roth IRA to create enough income to use up the solar credit but it would be in 2022 not retroactive.

JeffofBoise

Is there any different documentation or procedure for claiming a RV solar system tax credit?

 

[JeffOfBoise]

Is there any different documentation or procedure for claiming a RV solar system tax credit?

There isn't any difference. An RV with permanent, eating, sleeping and bathroom facilities can be a residence and the solar credit is actually called the Residential Energy Credit.

JeffofBoise

 

[drivempls]

Apologies for reviving a months-old thread but I'm hunting for similar info. I know the Residential Energy Credit applies to new home construction, and I've read of homeowners having trouble getting an estimate of equipment and labor costs from their builder. They've had to price out the system themselves in order to complete the REC form.

I'm wondering if the same logic could be applied to new RVs with included solar energy systems, and how you'd go about estimating in a way that satisfied the tax man.

 

[Soundsailor]

Apologies for reviving a months-old thread but I'm hunting for similar info. I know the Residential Energy Credit applies to new home construction, and I've read of homeowners having trouble getting an estimate of equipment and labor costs from their builder. They've had to price out the system themselves in order to complete the REC form.

I'm wondering if the same logic could be applied to new RVs with included solar energy systems, and how you'd go about estimating in a way that satisfied the tax man.

Looks like you're new here [MENTION=50017]drivempls[/MENTION], welcome to the forum. This might have been a good choice for a new post, certainly a topic that could be of interest to many of our members who are doing solar.