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Level 1

How to record solar tax credit in QB?

Business (in accrual basis) will receive energy tax credit for installing solar panel in 2018.  In QB equipment asset, should I reduce solar panel costs with tax credit received?

 

If not, where do I record this tax credit?  Because when this equipment is disposed after 10 years, book will still have the "reduced basis" remaining while there should no gain or loss on disposal.

 

Solved
Best answer January 28, 2019

Best Answers
Level 15

How to record solar tax credit in QB?

You are asking about a Tax Credit; not Bonus Depreciation.

 

See this article:

https://www.irs.gov/instructions/i3468

View solution in original post

2 Comments
Level 15

How to record solar tax credit in QB?

You are asking about a Tax Credit; not Bonus Depreciation.

 

See this article:

https://www.irs.gov/instructions/i3468

View solution in original post

Level 1

How to record solar tax credit in QB?

Thank you.

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