showme
New Member
Sort of a last minute plea for information here, but I'm having trouble understanding exactly what is covered, and I'm heading to my tax accountant's this week to get my taxes done. I've read in multiple places that anything involved in building my system is deductible. In my case, aside from my panels, power equipment, batteries, arrays and the poles and concrete they're mounted on, and the equipment used to install them, I had to build an 8x8' shed to house the equipment. This consisted of a few things that didn't cost me anything (the framing lumber is from my property and the neighbors portable sawmill), my labor, etc. which won't be used in the calculation. But I did buy concrete and wire mesh for the floor, a few lights, screws, wiring, hinges, which were all used for this specific purpose.
And then there's the Grunfos solar pump and all the pipe, fittings and miscellaneous, including the controller and hundreds of feet of 1" water line to feed the house and garden hydrant. I also rented an excavator for digging the holes for the array poles, not to mention rebar, sonotube concrete forms and paint. (I used the excavator to set the 16' poles, too.)
So, when I go into my accountants office with this list of materials for not only my power equipment (inverters, breakers, disconnects, service panel, etc.) and all the things I've managed to not lose track of for the shed, will I be laughed at, or is this all legitimate?
Or, in other words, what can I claim for the solar system and the well system, which is powered by 6 panels, a controller and a breaker switch? And, yes, I know I've waited till the last minute, but I told my CPA that I'm running late. Thanks for any information! Lee
And then there's the Grunfos solar pump and all the pipe, fittings and miscellaneous, including the controller and hundreds of feet of 1" water line to feed the house and garden hydrant. I also rented an excavator for digging the holes for the array poles, not to mention rebar, sonotube concrete forms and paint. (I used the excavator to set the 16' poles, too.)
So, when I go into my accountants office with this list of materials for not only my power equipment (inverters, breakers, disconnects, service panel, etc.) and all the things I've managed to not lose track of for the shed, will I be laughed at, or is this all legitimate?
Or, in other words, what can I claim for the solar system and the well system, which is powered by 6 panels, a controller and a breaker switch? And, yes, I know I've waited till the last minute, but I told my CPA that I'm running late. Thanks for any information! Lee