Residential Energy Credits

[Booger]

Taxpayer had his home built in 2007. He has asked whether certain energy efficient items

qualify for the energy credit (NOT SOLAR). I believe that in order to qualify for the credit,

the taxpayer has to REPLACE an existing unit for a more energy efficient unit. New construction

DOES NOT QUALIFY.

Am I correct?

Thanks,

Booger

[Booger]

Taxpayer had his home built in 2007. He has asked whether certain energy efficient items

qualify for the energy credit (NOT SOLAR). I believe that in order to qualify for the credit,

the taxpayer has to REPLACE an existing unit for a more energy efficient unit. New construction

DOES NOT QUALIFY.

Am I correct?

Thanks,

Booger

Found my answer......qualified residential energy property used in new construction DOES QUALIFY.

See page 10-6 of 1040 express answers.

Booger

[Janitor Bob]

Found my answer......qualified residential energy property used in new construction DOES QUALIFY.

See page 10-6 of 1040 express answers.

Booger

But does it apply to the homeowner or to the builder/contractor that installed it in the new home?

[BulldogTom]

There are two credits - one for homeowners and one for buillders. There are 2 separate forms (can't remember the numbers but one is in the 5000 series and the other I think is in the 8000 series). The homeowners get a credit up to $500 for energy efficiency improvements, and the builders get a credit for building energy efficient homes.

Tom

Lodi, CA

[Jack from Ohio]

There are two credits - one for homeowners and one for buillders. There are 2 separate forms (can't remember the numbers but one is in the 5000 series and the other I think is in the 8000 series). The homeowners get a credit up to $500 for energy efficiency improvements, and the builders get a credit for building energy efficient homes.

Tom

Lodi, CA

Tom is exactly correct. Owners get improvements, builders get credit for new construction.

http://www.energystar.gov/index.cfm?c=prod....pr_tax_credits

[Booger]

Thanks to all who responded to this thread.

All of you take a dollar out of petty cash!

Booger

[Janitor Bob]

Thanks to all who responded to this thread.

All of you take a dollar out of petty cash!

Booger

Thanks...I took a candy from the bowl on your desk too.....at least I THINK that was candy?

[Trnr395]

Last year I had a contractor frame up my house. I have done all of the rest, insulation, exterior doors, windows, etc. Would I qualify for the credit for the builder. As far as my reading goes I would say no....but am still unclear???

[kcjenkins]

There are requirements for a builder to become a 'qualified' builder. It is not practical to do the things required for just one home.

[Linda]

Found my answer......qualified residential energy property used in new construction DOES QUALIFY.

See page 10-6 of 1040 express answers.

Booger

Read the reference and still don't see that new construction/addition qualifies for first part of credit - insulation, windows, doors. Been searching...seems so simple...must be missing something.

[jainen]

>>does it apply to the homeowner or to the builder<<

Depends on who owns it. If you have a homesite and bring in someone to build your custom home, you get the credit just like if you had an existing home and brought in a contractor to install new features. But if you have your eye on a new planned community and order upgrades, you don't get the credit even though the builder passes on the higher price to you.

[Linda]

>>does it apply to the homeowner or to the builder<<

Depends on who owns it. If you have a homesite and bring in someone to build your custom home, you get the credit just like if you had an existing home and brought in a contractor to install new features. But if you have your eye on a new planned community and order upgrades, you don't get the credit even though the builder passes on the higher price to you.

What about an addition to an older home? Does the new construction of the addition qualify for windows, doors, insulation?