With the tax deadline approaching I thought I'd toss this out there:
If you installed solar on your RV in 2018, be sure to include the cost of that system in your federal taxes. You might be able to claim a 30% tax credit, which is not the same as a tax deduction (apologies for the title above, but hey, it sounds better!)
In fact, if your RV is your primary or second home, be sure to also deduct the interest you paid on it (if any) during the calendar year 2018.
The IRS considers that RV as a primary home or second home, as long as it has permanently installed cooking, sleeping, and toilet facilities.
They probably wont be inspecting every van-dweller to make sure it has those features, that would be between you, your tax preparer, and the IRS. Do your homework! But part-time and full-time RVers with those facilities should check into this.
Info:
https://gpelectric.com/us-solar-tax-credits/
https://www.wholesalesolar.com/solar-information/federal-tax-credit
https://rv-roadtrips.thefuntimesguide.com/rv_tax_deductions/
https://amsolar.com/tax
https://ttlc.intuit.com/questions/3508276-can-i-claim-an-rv-as-a-second-home
https://www.irs.gov/newsroom/get-credit-for-making-a-home-energy-efficient
I'm not a tax expert, so again, do your homework, and ask your tax preparer about it.
If you installed solar on your RV in 2018, be sure to include the cost of that system in your federal taxes. You might be able to claim a 30% tax credit, which is not the same as a tax deduction (apologies for the title above, but hey, it sounds better!)
In fact, if your RV is your primary or second home, be sure to also deduct the interest you paid on it (if any) during the calendar year 2018.
The IRS considers that RV as a primary home or second home, as long as it has permanently installed cooking, sleeping, and toilet facilities.
They probably wont be inspecting every van-dweller to make sure it has those features, that would be between you, your tax preparer, and the IRS. Do your homework! But part-time and full-time RVers with those facilities should check into this.
Info:
https://gpelectric.com/us-solar-tax-credits/
https://www.wholesalesolar.com/solar-information/federal-tax-credit
https://rv-roadtrips.thefuntimesguide.com/rv_tax_deductions/
https://amsolar.com/tax
https://ttlc.intuit.com/questions/3508276-can-i-claim-an-rv-as-a-second-home
https://www.irs.gov/newsroom/get-credit-for-making-a-home-energy-efficient
I'm not a tax expert, so again, do your homework, and ask your tax preparer about it.
