Stange but true...many of my customers are claiming the credit for their RV PV solar system and a few have reported back: no problems. For some, the motorhome or trailer is their primary residence but for most it is just used part time.
Larry Crutcher Starlight Solar Power Systems On Nov 10, 2011, at 9:58 PM, toddc...@finestplanet.com wrote: > 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. > >
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