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Author Topic: Fedral tax credit  (Read 2856 times)

tweak

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Fedral tax credit
« on: July 06, 2007, 11:38:53 AM »
Does anyone know if the fedral solar tax credit can be used with a motor home??
1996 Winnebago Adventure WCG34RQ

Gary RV_Wizard

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Re: Fedral tax credit
« Reply #1 on: July 06, 2007, 01:47:24 PM »
Don't know - you will have to check the fine print. It is usual for federal homeowner credits to apply to the primary residence only, so that's one thing to check. Most RVs will qualify as a "home" under federal tax rules, but for most of us it is a vacation home.

Another thing to check is that the equipment usually must be state certified for performance and effectiveness and products designed for RV use may not be. Doesn't mean they would not pass certification, but the manufacturer may not have bothered, especially since it usually has to be done separately in each state.

HERE is a link that provides some  info and links to more details. And Form 5695 has instructions. Note that Form 5695 refers to your "main home" and would seem to exclude vacation homes or alternate homes. Not sure if 5695 is the right form, since it doesn't mention solar, but the previous links imply that is the form to use.
Gary
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John From Detroit

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Re: Fedral tax credit
« Reply #2 on: July 06, 2007, 01:52:26 PM »
Interesting answer Roamer (And one that I fully agree with "I DO NOT KNOW")

Let me toss a wrench in the works by asking:

"What if you are a full timer?"

and stop there. because my answer would still be the same (Don't know) thus, I'm asking.
Nothing adds excitement like something that is none of your business
My Home is where I park it.

tweak

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Re: Fedral tax credit
« Reply #3 on: July 06, 2007, 08:01:17 PM »
Roamer,
I should have said that to start with, as a full timer not as a vacation home! I have done some reading and the term "mobile home" is used. Now if an RV used by a full timer is not a mobile home then I am a monkeys uncle!
1996 Winnebago Adventure WCG34RQ

Wendy

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Re: Fedral tax credit
« Reply #4 on: July 06, 2007, 09:05:35 PM »
It all boils down to how the IRS defines "mobile home"....do they include a motorhome? It seems like an interesting question which I think I'll pose to the IRS in a phone call on Monday. Inquiring minds want to know.

Wendy
Wendy, Mike, and Gordon
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Carl L

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Re: Fedral tax credit
« Reply #5 on: July 06, 2007, 09:25:46 PM »
Don't know - you will have to check the fine print. It is usual for federal homeowner credits to apply to the primary residence only, so that's one thing to check. Most RVs will qualify as a "home" under federal tax rules, but for most of us it is a vacation home.

Another thing to check is that the equipment usually must be state certified for performance and effectiveness and products designed for RV use may not be. Doesn't mean they would not pass certification, but the manufacturer may not have bothered, especially since it usually has to be done separately in each state.

HERE is a link that provides some  info and links to more details. And Form 5695 has instructions. Note that Form 5695 refers to your "main home" and would seem to exclude vacation homes or alternate homes. Not sure if 5695 is the right form, since it doesn't mention solar, but the previous links imply that is the form to use.

The IRS 5695 form has this definition

Home. A home is one that you lived in during 2006 and includes a house, houseboat, mobile home,
cooperative apartment, condominium, and a manufactured home that conforms to Federal
Manufactured Home Construction and Safety Standards.  You must reduce the basis of your home by the
amount of any credits allowed.

Main home. Your main home is generally the home
where you live most of the time. A temporary absence due to special circumstances, such as illness,
education, business, military service, or vacation, will not change your main home.


If I were a full timer, I sure as hell would look into the credit.   I might if I were a parttimer even.

Carl L/LA   [Forum Staff]  KI6SEZ

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Wendy

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Re: Fedral tax credit
« Reply #6 on: July 06, 2007, 09:58:46 PM »
If I were a full timer, I sure as hell would look into the credit.   I might if I were a parttimer even.


"Main home......" is the key phrase in the IRS code.


Wendy, Mike, and Gordon
~We can't be lost because we don't care where we're going~
Here's where we are http://map.datastormusers.com/user2.cfm?user=2276
2015 Allegro Ooen Road
1973 Sunshine Yellow VW Bug

Carl L

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Re: Fedral tax credit
« Reply #7 on: July 07, 2007, 11:17:23 AM »
"Main home......" is the key phrase in the IRS code.


Perhaps.  However, the code section cited uses the term "dwelling unit" which is more general.    Like I say, if I was installing a solar array during the period on anything, I would certainly give the credit a hard squint.
Carl L/LA   [Forum Staff]  KI6SEZ

Prowler 23LV TT pulled by a '95 Ford Bronco

blueblood

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Re: Fedral tax credit
« Reply #8 on: July 07, 2007, 02:06:05 PM »
The IRS 5695 form has this definition

Home. A home is one that you lived in during 2006 and includes a house, houseboat, mobile home,
cooperative apartment, condominium, and a manufactured home that conforms to Federal
Manufactured Home Construction and Safety Standards
.  You must reduce the basis of your home by the
amount of any credits allowed.


If I were a full timer, I sure as hell would look into the credit.   I might if I were a parttimer even.

None are built to these stds.


Leo

Carl L

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Re: Fedral tax credit
« Reply #9 on: July 07, 2007, 07:33:02 PM »
Ok, so don't check into it. 
Carl L/LA   [Forum Staff]  KI6SEZ

Prowler 23LV TT pulled by a '95 Ford Bronco

Karl

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Re: Fedral tax credit
« Reply #10 on: July 08, 2007, 10:12:49 AM »
I interpret "and a manufactured home that conforms to Federal Manufactured Home Construction and Safety Standards." as applying only to a manufactured home.

Interestingly, if you read the sections about solar electric and solar hot water, they say you can have more than one Main home, and can get a credit on each of them. ::)
Karl (Cheesehead) Kolbus   Life's journey is not to arrive at the grave safely in a well preserved body, but rather to skid in sideways, totally worn out, shouting "...holy cow ...what a ride!"

Shayne

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Re: Fedral tax credit
« Reply #11 on: July 08, 2007, 10:17:28 AM »
I've been doing that for years  even when we had property in Fl.   Our Bookkeeper took care of that.  I do it now on Both of these unit here in AZ
Old, Stubborn, Opinionated, Set in my Ways, and Independent,  IMHO