IRS and 1099's [RE-wrenches]

[Graham Owen]

Hi Michael,

I have nothing in hand directly from the IRS but a customer of mine has
looked into this and has assured me that he will not have to pay taxes
on his solar rebate.  I also have a copy of an e-mail from  William S.
(Bill) Kemble, CFA, Shell Solar Industries, which states the same.

 Federal:
http://www.irs.gov/formspubs/page/0,,id=11910,00.html
 which states that "you can exclude from gross income any subsidy
provided,
 either directly or indirectly, by public utilities for the purchase or
 installation of an energy conservation measure for a dwelling unit"

 State: http://www.ftb.ca.gov/other/legis/01%5F02absb/ab1968_061802.pdf
 which looks to be a live bill which states "this bill would exclude
from gross income any type of rebate...received for the purchase or
installation of an energy-producing system".


I hope this is helpful to Wrenches because it has sure made me feel
better and my customers as well.

Graham Owen
GO Solar




-----Original Message-----
From: Michael Welch, Home Power [mailto:michael.welch at homepower.com] 
Sent: Friday, October 04, 2002 11:37 AM
To: RE-wrenches at topica.com
Subject: Re: IRS and 1099's [RE-wrenches]


Graham Owen wrote at 11:14 AM 10/04/2002 -0700:
  
>Energy conservation measure. This includes installations or 
>modifications that are primarily designed to reduce consumption of 
>electricity or natural gas, or improve the management of energy demand.

Hi Graham. Wow, very interesting.

This assumes interpretation to include installations or modifications
that are primarily designed to produce electricity.

Is there an official IRS ruling on that interpretation?
  
Michael Welch
  

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