[RE-wrenches] federal tax credit

[Jonathan Hill]

Can any say for sure if the cost of batteries qualifies for the fed tax credit? No one seems to have a clue.

Jonathan Hill, senior system design engineer
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On Nov 10, 2011, at 9:58 PM, toddcory at 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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