Nys Solar Tax Credit 2019 Form

Form rp 487 from new york state department of taxation and finance.

Nys solar tax credit 2019 form.

File this form with your local property assessor. If you re considering solar you ve probably heard about the federal solar tax credit also known as the investment tax credit itc the federal itc makes solar more affordable for homeowners and businesses by granting a dollar for dollar tax deduction equal to 26 of the total cost of a solar energy system. Some municipalities and school districts have opted out and will include the value of the solar installation in your property tax assessment without the exemption. 5 minutes last updated on august 27 2020.

To claim this credit fill out this form and include the final result of it on irs form 1040. Have questions about your solar tax credits. Solar energy system equipment credit. There are so many incentives to go solar especially for new york residents.

Form it 255 claim for solar energy system equipment and its instructions. Department of taxation and finance. The system must also be installed and used at your principal residence in new york state. Use form 5695 to figure and take your nonbusiness energy property credit and residential energy efficient property credit.