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MequonCPA
MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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Is the Federal Energy Tax Credit transferable for Solar Photovoltaics.

Resolved Question:

Is the Federal Energy Tax Credit transferable for Solar Photovoltaics. We own a business installing PV systems? Can the homeowner transfer those credits to us? Can we sell those tax credits
Submitted: 5 years ago.
Category: Tax
Expert:  MequonCPA replied 5 years ago.
Hi and welcome to JustAnswer:

The residential solar energy tax credit must be claimed by the property owner. The allowed credit is determined when the property owners file their individual income tax returns. Taxpayers use Form 5695 to claim the credit. (Link below)

This is not a refundable credit, meaning it will only reduce taxpayer's liability to zero. Any excess credit is carried forward.

http://www.irs.gov/pub/irs-pdf/f5695.pdf
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