Carl writes to us that his tax preparer doesn’t know how to apply for the 30% Federal Tax Credit.
We’ve answered part of this question before about how to calculate the 30% Federal Tax credit, but we’re going to go the extra mile and actually give all our beautiful solar people the IRS forms. Send them over to your tax preparer and tell them to give you a discount. No need to thank us. Just buy us a beer next time you’re in the neighborhood, or let us sleep on your couch when we’re in your neighborhood.
For products “placed in service” in 2009, you need to file the 2009 IRS Form 5695 and submit it with your 2009 taxes (by April 15, 2010). On the 2009 1040 form, the residential energy tax credit (from Form 5695) is claimed on line 52.
“Placed in service” means the year your solar system was up and working on your roof. It doesn’t mean when you put down your deposit. Similarly, for products “placed in service” this year in 2010, you’ll take the tax credit on your 2010 income taxes.
Thanks for the question, Carl! You rock for going solar!
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