Q: We sold our home in 2019 to retire. We bought a fixer and paid for solar. Can we use the 2019 tax credit of 30%?
We are living on the property, Still renovating the house and it may not be habitable for some time. Does placed-in-service apply to us? We need the credit for 2019, as we no longer have income for 2020.
A: If you bought the fixer in 2019 and either contracted for solar in that tax year or had it installed that year you can probably deduct it in you 2019 taxes (I say "probably" because I have not read the controlling statute or the contract).
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