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Old 06-25-2014, 05:18 PM   #1
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Solar tax credit question.

I've read several places that one qualifies for a 30% tax credit for installing a solar system on an RV. Just talked with my accountant & he tells me he's not sure, but he thinks only your primary residence qualifies. He didn't have time to research it, & I'm going to make the purchase anyway, so I didn't ask him to look it up for me. We'll figure it out at tax time. Does anyone have a definite answer?

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Old 06-25-2014, 05:23 PM   #2
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I was told a trailer can qualify as a second home as long as it has all the necessary equipment to live in it (kitchen, bath, beds etc). That is supposedly the wrinkle that would allow for the deduction. A RV loan can be setup as a mortgage and the interest becomes deductible.
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Old 06-25-2014, 05:30 PM   #3
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Doesn't matter if it's a boat or MH or trailer, they are second homes if you sleep ther at least 14 night/year, has kitchen and bath. Doesn't have to be a mortgage. Here's how I know. In 2011, I mistakenly added my AS interest to my house interest and put both on line 11 (IIRC). My AS is a plain installment loan for which no 1099 is issued. Of course in 2013, I got a letter from IRS stating I had to pay $500+ because I had no 1099. I reviewed and realized that the AS loan interest should've been on line 10 or 10A or some such line. I supplied my documentation to IRS with my explanation and they sent me back a letter stating all was good and the matter was closed.

(I may have my form and line numbers wrong, but you get the picture)
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Old 06-25-2014, 06:36 PM   #4
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I know an RV will qualify as a second home, as far as deducting interest on a mortgage. I just don't know if the 30% investment tax credit for solar applies for an RV, or second home. I think it's two different issues. Does anyone know?
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Old 06-25-2014, 06:39 PM   #5
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I thought it was first home only, but not sure I've ever seen it in print.
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