This is the year you installed solar power on your RV. While you can now be off-grid, which is exciting, you also qualify for the residential energy credit on your taxes for that new solar power system.
What’s that you ask? The residential energy credit is up to a 30% non-refundable credit on your taxes for your new solar power.
You read that right! You could qualify for a 30% credit on your tax liability.
If you haven’t already installed solar, be aware 2019 is the last year for 30%. The tax credit decreases to 26% for tax year 2020. It then drops to 22% for tax year 2021 and expires December 31, 2021.
What are you waiting for?
Yes. Your RV, trailer or motorhome qualifies for this residential energy tax credit.
As defined by the IRS, a home is where you lived in 2019 and includes both houseboats and mobile homes. Your RV home must have sleeping quarters, a kitchen, and bathroom facilities to count as a home.
Thanks for this information. Very helpful!
What about travel Van’s? Does the IRS accept them as secondary residences for the solar tax write off? How about the auto loan interest?
The bedroom is not ‘closed off’ which is the only item that doesn’t seem to fit the IRS description I read. The DMV of course does count it as an RV. Does the IRS consider or ‘require’ the DMV certification?
Any experience or information would be appreciated.
Yes. A van would qualify as long as it has a sleeping area, kitchen space, and a bathroom. Loan interest qualifies as well as long as the loan is secured by the vehicle and not a personal loan. Also, most full-timers don’t qualify to itemize deductions where is where the interest gets taken.