Energy Products

EV and Solar Tax Credit

edited November -1 in Energy Products
Hi-

I am reading that the IRS applies the rebate for solar energy installation before that of a new EV. So if you got both in the same tax year, any excess rebate will not carry forward to the next year (assuming the excess comes from the EV). ie. If you have a $10,000 tax liability and a $5000 rebate for solar and $7500 for a new EV, the remaining $2500 rebate would be lost because it theoretically came from the EV since the solar is applied first.

Am I understanding this correctly?

Comments

  • edited August 2018
    yup
  • edited November -1
    That's not good, for my current situation
  • edited August 2018
    @jimglas Where are you finding that info? I can’t find it anywhere other than from a comment on the Turbo Tax Page.
  • edited August 2018
    I hope it's wrong, but it sound like it's right. I got the Tesla solar last month and picking up my 2nd Tesla (model x this time) this week. Time to do a lot of ot
  • edited August 2018
    This is correct. This is why your tax professional should always utilize the EV credit first. EV is use it or lose it, Solar can be carried over for up to 5 years.
Sign In or Register to comment.