How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask MequonCPA Your Own Question
MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
Type Your Tax Question Here...
MequonCPA is online now
A new question is answered every 9 seconds

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: 6 years ago.
Category: Tax
Expert:  MequonCPA replied 6 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.
MequonCPA and other Tax Specialists are ready to help you