The tax credit can be carried back one year and forward 20 years. Unless
the credit is extended, it applies to systems placed in service on any
dwelling unit by Dec. 31, 2016.
Thank you,
Larry Crutcher
Starlight Solar Power Systems
On 3/27/15 4:41 PM, August Goers wrote:
Hi Wrenches,
Since we’re on the topic of the ITC, I have another question someone
might be able to help with. Assuming that a system is placed into
service prior to the end of 2016, it should qualify for the 30% tax
credit. Some people do not have enough tax liability to take the whole
credit in the same year of the installation and I believe they
typically have 5 years to take the credit. Do this apply to post-2016
as well? In other words, if a system is placed into service in 2016
but the owner doesn’t have a tax appetite until sometime after 2016,
can they still take the tax credit (within 5 years)? I’m assuming the
answer is yes, but thought some of you might be more versed in the tax
code.
Thanks,
August
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