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Old 03-24-2008, 09:13 PM
dpb
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Default Re: Energy Credit

Harlan Lunsford wrote:
- quote -

> Home Computer wrote:
> > In 2007, we updated our failing air conditioning system (spit system).
> > Our home is two levels with two zones. In other words, we have two
> > independent units, one for down stairs and one for upstairs. Do I
> > claim each individually or combined? I am up against the maximum
> > allowed which seems not to credit me for the second unit.
> > You "claim" nothing, unless there is a heat pump somewhere in the works

> and one that qualifies for the credit. Best reference for you is to
> see instructiosn for form 5695.


And, you're right -- there's no help for split systems, etc., and the
credit even if allowed for your new system tends to be nothing close to
the cost differential required to qualify. All in all, it's a minimal
benefit every time I've evaluated it--that is, not nearly big enough to
make it any factor at all in a decision.

--

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 03-24-2008, 08:51 PM
Harlan Lunsford
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Posts: n/a
Default Re: Energy Credit

Home Computer wrote:
- quote -

> In 2007, we updated our failing air conditioning system (spit system).
> Our home is two levels with two zones. In other words, we have two
> independent units, one for down stairs and one for upstairs. Do I claim
> each individually or combined? I am up against the maximum allowed which
> seems not to credit me for the second unit.


You "claim" nothing, unless there is a heat pump somewhere in the works
and one that qualifies for the credit. Best reference for you is to
see instructiosn for form 5695.

ChEAr$,
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 03-24-2008, 08:26 PM
Home Computer
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Posts: n/a
Default Energy Credit

In 2007, we updated our failing air conditioning system (spit system).
Our home is two levels with two zones. In other words, we have two
independent units, one for down stairs and one for upstairs. Do I claim
each individually or combined? I am up against the maximum allowed which
seems not to credit me for the second unit.

Thanks for your help.

Ed

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

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