tax credit question [RE-wrenches]

[Peter Duchon]

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http://www.seia.org/manualdownload.php

I would encourage all to see above link for Fed Tax Incentive "Manual" and
submit requested info and then confirm email. Then the manual, a pdf
document, will be emailed to you.

IRS officer at Office of Associate Chief Counsel (Passthroughs & Special
Industries) will research today and call back on specific questions below.
Will report results to both groups.

Thanks,
Peter

-----Original Message-----
From: ASAP POWER! 2 [mailto:info at asappower.com]
Sent: Wednesday, June 21, 2006 9:50 AM
To: RE-wrenches at topica.com
Cc: RE-Markets at topica.com
Subject: RE: tax credit question [RE-wrenches]


What about the case of the builder/developer leasing the PV system they own,
with the win-win benefit of lease payment write-offs to the homeowner or
commercial building owner?

Wouldn't the builder/developer be the owner of the residential PV system in
their commercial business operations if they are leasing the systems and
only  selling the support structure?  Magic 8 Ball indicates YES.  However,
"basis" of credit and associated rules will come into play.

Or does the tax code read such that it is the owner of the structure
(regardless of who "owns" the system) that receives the credit?

These are federal laws when talking about the tax credit features of the IRS
code for investing in solar PV systems.  Shouldn't be anything to guess
about here.

Someone should check further, either with a CPA familiar with or with the
IRS directly.

Further, should this topic be on RE Marketing list?  Scott Sklar is on RE
Marketing list and has responded on similar issue there in recent past,
involving tax credit, see archive reference to "Non-profits selling Tax
Credits?" thread...

Peter
asappower.com
1auinc.com
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