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2007 Federal Residential Solar Tax Credit and IRS Form 5695 http://solar-guppy.com/forum/viewtopic.php?f=16&t=604 |
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Author: | Wennfred [ Sun Jan 20, 2008 6:37 pm GMT EthGMT ] |
Post subject: | 2007 Federal Residential Solar Tax Credit and IRS Form 5695 |
Residential Solar and Fuel Cell Tax Credit Last DSIRE Review: 01/08/2008 Incentive Type: Personal Tax Credit Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics, Fuel Cells, Other Solar Electric Technologies Applicable Sectors: Residential Amount: 30% Maximum Incentive: $2,000 for solar-electric systems and solar water-heating systems; $500 per 0.5 kW for fuel cells Carryover Provisions: Excess credit may be carried forward to succeeding tax year Eligible System Size: Not specified Equipment/Installation Requirements: Solar water heating property must be certified by SRCC or by comparable entity endorsed by the state in which the system is installed. At least half the energy used to heat the dwelling's water must be from solar in order for the solar water-heating property expenditures to be eligible. 2007 IRS Form 5695 http://www.irs.gov/pub/irs-pdf/f5695.pdf I'm not a Tax Wiz so if someone can fill one of these IRS 5695 forms out with basic figures to show us an example, I would highly appreciate it. Thanks Fred |
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