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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Interpretations and rulings are also a big component of how tax laws are implemented. National SEIA has an excellent tax manual written by some very good tax
attorneys that is available to members. In my experience most accountants (and installers) need this kind of direction because the subject is so new and specialized.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Jeff Irish, PE</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">President</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Hudson Valley Clean Energy, Inc.</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">and Adirondack Solar</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">13 Hook Road</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Rhinebeck, NY 12572</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">T.845.876.3767x110</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">F.845.876.3912</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><a href="mailto:jeff@hvce.com">jeff@hvce.com</a></span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Renewable Energy Systems</span></i><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Solar, Wind, Geothermal</span></i><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">NYSERDA Eligible PV Installer</span></i><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">NABCEP Certified PV Installer</span></i><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> re-wrenches-bounces@lists.re-wrenches.org [mailto:re-wrenches-bounces@lists.re-wrenches.org]
<b>On Behalf Of </b>Jamie Johnson<br>
<b>Sent:</b> Friday, November 11, 2011 8:21 AM<br>
<b>To:</b> RE-wrenches<br>
<b>Subject:</b> Re: [RE-wrenches] federal tax credit<br>
<b>Importance:</b> High<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black">Todd,
<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black">See IRC sections 25D and also 136 if there is a utility paid incentive, as any utility paid incentive may affect how 25D is applied.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black">You may also want to see Sections 280A(d)(1), 280A(d)(2), and 280A(f)(1) for the definitions.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><strong><span style="font-size:8.0pt;font-family:"Verdana","sans-serif";color:blue">Jamie Johnson</span></strong><b><span style="font-size:8.0pt;font-family:"Verdana","sans-serif";color:blue"><br>
<strong><span style="font-family:"Verdana","sans-serif"">NABCEP Certified PV Technical Sales Professional</span></strong><br>
<strong><span style="font-family:"Verdana","sans-serif"">NABCEP Certified Solar PV Installer</span></strong><br>
<br>
<strong><span style="font-family:"Verdana","sans-serif"">General Manager</span></strong></span></b><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><strong><span style="font-size:8.0pt;font-family:"Verdana","sans-serif";color:blue">SOLAR POWER ELECTRIC</span></strong><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:8.0pt;font-family:"Verdana","sans-serif";color:blue"><img border="0" width="226" height="210" id="_x0000_i1025" src="cid:image001.jpg@01CCA04D.C5F73420"></span></b><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:13.5pt"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:black">-------- Original Message --------<br>
Subject: [RE-wrenches] federal tax credit<br>
From: <a href="mailto:toddcory@finestplanet.com">toddcory@finestplanet.com</a><br>
Date: Fri, November 11, 2011 12:58 am<br>
To: "RE-wrenches" <<a href="mailto:re-wrenches@lists.re-wrenches.org">re-wrenches@lists.re-wrenches.org</a>></span><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black">Wrenches,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black">I got the following information from a customer who ran the federal tax credit by her accountant. As a double check... is this correct?<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black">Thanks,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black">Todd<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia","serif";color:black">My accountant wrote:
</span><span style="font-family:"Arial","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif";color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia","serif";color:black">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.</span><span style="font-family:"Arial","sans-serif";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia","serif";color:black">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.</span><span style="font-size:13.5pt;font-family:"Arial","sans-serif";color:black"><o:p></o:p></span></p>
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<br>
<br>
Sent from Finest Planet WebMail.<o:p></o:p></span></p>
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