How do i account for solar purchased for rental?
Looking for a solution to this as well. It would be great to track capital expenses in categories like solar, batteries, or other appliances like a heat pump water heater.
Also looking for this -_- I guess for now I will use electrical cap ex. STESSA! We need a way to manually add categories pleeeease
While highly recommend consulting with a qualified CPA regarding proper classification of specific expenses, a new solar project sounds like a classic example of an electrical capex expense for which the existing Capital Expenses > New Plumbing & Electrical category is a good fit. While a solar install might currently qualify for a specific tax break or special treatment, that’s also true for all sorts of other capex projects that would fall into other existing categories like “New HVAC” or “New Appliances.”
Perhaps what you are looking for here is a way to somehow “flag” this particular expense for follow-up at tax time?