Interpretations and rulings are also a big component of how tax laws are implemented. National SEIA has an excellent tax manual written by some very good tax attorneys that is available to members. In my experience most accountants (and installers) need this kind of direction because the subject is so new and specialized.
Jeff Irish, PE President Hudson Valley Clean Energy, Inc. and Adirondack Solar 13 Hook Road Rhinebeck, NY 12572 T.845.876.3767x110 F.845.876.3912 j...@hvce.com<mailto:j...@hvce.com> Renewable Energy Systems Solar, Wind, Geothermal NYSERDA Eligible PV Installer NABCEP Certified PV Installer From: re-wrenches-boun...@lists.re-wrenches.org [mailto:re-wrenches-boun...@lists.re-wrenches.org] On Behalf Of Jamie Johnson Sent: Friday, November 11, 2011 8:21 AM To: RE-wrenches Subject: Re: [RE-wrenches] federal tax credit Importance: High Todd, See IRC sections 25D and also 136 if there is a utility paid incentive, as any utility paid incentive may affect how 25D is applied. You may also want to see Sections 280A(d)(1), 280A(d)(2), and 280A(f)(1) for the definitions. Jamie Johnson NABCEP Certified PV Technical Sales Professional NABCEP Certified Solar PV Installer General Manager SOLAR POWER ELECTRIC [cid:image001.jpg@01CCA04D.C5F73420] -------- Original Message -------- Subject: [RE-wrenches] federal tax credit From: toddc...@finestplanet.com<mailto:toddc...@finestplanet.com> Date: Fri, November 11, 2011 12:58 am To: "RE-wrenches" <re-wrenches@lists.re-wrenches.org<mailto:re-wrenches@lists.re-wrenches.org>> Wrenches, I got the following information from a customer who ran the federal tax credit by her accountant. As a double check... is this correct? Thanks, Todd My accountant wrote: The taxpayer claiming the credit must be the owner of the home. The value of these credits adjust basis for sale of home calculations. The residency test for this credit is the same as what is used in determining ownership and exclusion of gain on the sale of a primary residence. The credit cannot be claimed on a commercial property, rental property or by a tenant, and the taxpayer claiming the credit must be the owner of the home which is being used as their primary residence. Sent from Finest Planet WebMail. ________________________________ _______________________________________________ List sponsored by Home Power magazine List Address: RE-wrenches@lists.re-wrenches.org<mailto:RE-wrenches@lists.re-wrenches.org> Options & settings: http://lists.re-wrenches.org/options.cgi/re-wrenches-re-wrenches.org List-Archive: http://lists.re-wrenches.org/pipermail/re-wrenches-re-wrenches.org List rules & etiquette: www.re-wrenches.org/etiquette.htm<http://www.re-wrenches.org/etiquette.htm> Check out participant bios: www.members.re-wrenches.org<http://www.members.re-wrenches.org> -- This message has been scanned for viruses and dangerous content by Hudson Valley Computer Services<http://www.hvcomputerservices.com/>, and is believed to be clean.
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