[RE-wrenches] federal tax credit

penobscotsolar at midmaine.com penobscotsolar at midmaine.com
Fri Nov 11 13:05:52 PST 2011


Jonathan,
  Close to half of the systems that we installed that I previously spoke
of using the Federal Tax Credit used batteries. I believe if they are
installed as part of the initially installed system that they qualify as
just that and receive the full 30%.

Daryl





> 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
> Sierra Solar Systems
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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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