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Old 11-02-2017, 02:33 AM
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Join Date: Nov 2017
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Strange claim by soalr installation copmpany

They claimed I could depreciate a solar system installed on my home. They do this by making me a contractor working with the company. (Fill out paperwork and everything.) I talk to clients, allow them to use pictures of my home, put a sign in the yard, allow visits by prospective clients to see the home.

I get a nominal amount paid to me per month for 5 years--about 100 a month. Its effectively equal to the discount they give for shows and the like. I get 1k for anyone referred by me who signs up.

They claim that this would make the entirety of the system eligible to be depreciated. Is that accurate?



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Old 11-06-2017, 02:24 AM
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Join Date: Oct 2010
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in general, you can not depreciate any improvements on the personal residence. The IRS considers repairs and renovations on your personal residence to be personal expenditures, not business expenditures. So unless special circumstances apply, such as the use of part of your home for business purposes, you cannot take a current-year tax deduction for maintenance costs and renovations on your personal residence.There is an exception: If you recently installed a qualified energy generating system, you may be eligible for a tax credit. See IRS Form 5695 for more information.



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