Thanks for that info Tim.Not legally. Because it wouldn't be the first installation of the equipment.
But all that is required for the claim is a receipt. If it doesn't state it as refurbished, the IRS wouldn't know without an investigation.
Disclaimer: I'm not recommending that you should do anything illegal.
Manufacturer’s certification.
For purposes of taking the credit, you can rely on the manufacturer’s certification, in writing, that a product is qualifying property for the credit. Don't attach the certification to your return. Keep it for your records.
Yes. A solar PV system does not necessarily have to be connected to the electric grid for you to claim the residential federal solar tax credit, as long as it is generating electricity for use at your residenceSlightly different topic but couldn't find an answer.
For a solar setup in an off-grid home with no option for grid tied electric, can I still claim tax credits?
That I don't know.Okay. Thank you! And if I buy equipment that is new but from someone who bought it who hasn't used it, would that qualify?
If it's never been used. This would be the original installation. So yes, it qualifies.Okay. Thank you! And if I buy equipment that is new but from someone who bought it who hasn't used it, would that qualify?
I'd say if the previous purchaser hasn't claimed it, it should qualify...If it's never been used. This would be the original installation. So yes, it qualifies.
If it's used, it doesn't qualify.I'd say if the previous purchaser hasn't claimed it, it should qualify...
Used or not, if it's been claimed, it wouldn't qualify
"Used" is not used in the code. "Original installation " is the term. It cannot be easily determined whether a "refurbished" item has or has not been "installed". Looking past the wording, the intent is for one, and only one, credit per item. It can be argued that in order for a product to be "refurbished" it had to have been returned, and either exchanged or refunded. If refunded, it is not eligible for the credit. If exchanged, then the exchanged item is the one qualifying for the credit. So the original item has not had a credit claimed against it.If it's used, it doesn't qualify.
But, that probably wouldn't stop me from claiming it.
It's pretty simple. If it was previously used. This isn't it's original installation. And refurbished wasn't in my reply. But it could be refurbished and the original installation. Depending on the situation that required refurbishment."Used" is not used in the code. "Original installation " is the term. It cannot be easily determined whether a "refurbished" item has or has not been "installed". Looking past the wording, the intent is for one, and only one, credit per item. It can be argued that in order for a product to be "refurbished" it had to have been returned, and either exchanged or refunded. If refunded, it is not eligible for the credit. If exchanged, then the exchanged item is the one qualifying for the credit. So the original item has not had a credit claimed against it.
30,000*.3=9,000I have some batteries new in box so those are easily claimed as new. I have the invoice for the original purchase as well.
So if I install $30,000 of equipment I should be able to claim 1/3 of that in tax credit?