Solar Tax Credits

[wfred]

All:

I'm starting to seriously consider adding solar to my trailer now that our state is matching 60% of the federal energy tax credit. For those of you that have taken advantage of the tax credits, I have a couple of questions.

1.) Can/did you include the cost of the batteries? I have seen several briefs about an IRS ruling confirming the cost of the batteries can be included.

2.) What paperwork do you need in addition to the IRS form 5695? Is it as simple as totaling your receipts and adding it to the form or is there more paperwork I need to present?

Thanks for the help,

Fred

[wbwood]

I would definitely seek the help of a tax attorney or accountant... went to the govt website which directed to this website.

It states "The following applies to the 3 product categories below:
Tax Credit:30% of cost with no upper limitExpires:December 31, 2016Details:Existing homes & new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify."

When you click on the "principle residences" link it states "What is a "principal residence?"



The tax credit for energy efficiency is available for improvements made to a home that you own and use as your "principal residence." This is the home where you live most of the time. A temporary absence due to special circumstances, such as illness, education, business, military service, or vacation will not change your principal residence.

The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.

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The law (Section 25C(c)(1)(A)) specifies: such component is installed in or on a dwelling unit located in the United States and owned and used by the taxpayer as the taxpayer's principal residence"

I would definitely seek legal hepl with them using the terms dwelling and what signifies a "mobile home". My thoughts are that a dwelling is a home structure and that a mobile home is not an RV. But that's just how I would interpret it.

I agree with n7bsn...

[TerriStar]

Form 5695 asks if the solar panels were attached to your main residence. Says, if "no", deduction not allowed.

[2oldman]

wfred wrote:


2.) What paperwork do you need in addition to the IRS form 5695?

none,if you file online.

[n7bsn]

Bumpyroad wrote:
I asked my tax lady about solar in my second home and was told it applies to primary residence only. all I get to do is deduct interest, etc. from my taxes
bumpy

SCVJeff wrote:
Well this morons tax guy says it is legal in this state since the motorhome is considered a second home, so the solar was deducted. As far as batteries are concerned... Don't push it... Wether or not you can tie those together, I doubt you will find an auditor that understands the story you whipped up.

Looks like two "experts" have different opinions.

[Bumpyroad]

I asked my tax lady about solar in my second home and was told it applies to primary residence only. all I get to do is deduct interest, etc. from my taxes
bumpy

[SCVJeff]

Well this morons tax guy says it is legal in this state since the motorhome is considered a second home, so the solar was deducted. As far as batteries are concerned... Don't push it... Wether or not you can tie those together, I doubt you will find an auditor that understands the story you whipped up.

[1492]

Moved from Technology Corner

[n7bsn]

Personally I would find a Tax expert on Solar Credits and ask them, not us morons in a forum,
I would -not- be surprised that RVs are excluded.