Residential Real Estate Property Tax Tip Solar Credit
Homeowners go green and have Uncle Sam pay 30% of your cost as tax credit. The tax credit designed to spur investment in alternative energy equipment. The residential energy efficient property credit, equals 30 percent of what a homeowner spends on qualifying property such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property. Generally, labor costs are included when calculating this credit. Also, NO DOLLAR LIMIT exists on the amount of credit available except in the case of fuel cell property.
Homeowners should check the manufacturer’s tax credit certification statement before purchasing or installing any of these improvements. The certification statement can usually be found on the manufacturer’s website or with the product packaging. Normally, a homeowner can rely on this certification. The IRS cautions that the manufacturer’s certification is different from the Department of Energy’s Energy Star label, and not all Energy Star labeled products qualify for the tax credits.
You can find more information about Residential Energy Efficient Real Estate Property Tax Credit (Section 1122) at IRS website. Download this energy tax credit sheet for homeowners by CLICKING HERE
This blog post is brought to you by SimplifyEm Pay Rent Online and Property Management Software
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Get Unlimited 30% Tax Credit by Upgrading Residential Real Estate Property is brought to you by SimplifyEm Pay Rent Online and Property Management Software
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