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Jan 28, 2019 5:36 PM UTC
Solved

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.

 

qbteachmt
qbteachmtAnswer
Jan 29, 2019 12:42 AM UTC

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

 

See this article:

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

2 replies

qbteachmt
qbteachmtAnswer
Jan 29, 2019 12:42 AM UTC

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

 

See this article:

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

Hgtc2019Author
Jan 30, 2019 4:54 PM UTC

Thank you.