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From: genesis@ihu1e.UUCP (Russ Sehnoutka)
Newsgroups: net.taxes
Subject: Re: Residential Energy Tax Credit Summary
Message-ID: <354@ihu1e.UUCP>
Date: Mon, 10-Dec-84 11:10:16 EST
Article-I.D.: ihu1e.354
Posted: Mon Dec 10 11:10:16 1984
Date-Received: Tue, 11-Dec-84 03:31:37 EST
References: <352@ihu1e.UUCP>
Organization: AT&T BL, Naperville, Ill.
Lines: 37

Here is a summary of the replies that I received concerning
the Residential Energy Tax Credit information that I was interested
in.
(This is a summary because I couldn't send mail to Tom Bohannon
at Lanier R&D in Atlanta, Ga.).

The energy tax credit is still the same as last year, 15% of the first
$2000.00 with a maximum refund of $300.00.  The house must bi your
principle residence and must have been substancially completed
(built) as of April 20, 1977.

------------------------------------------------------------------------
> 
> From: Owen M. Hartnett 
>
> "Original use of such items must begin with the taxpayer, the items
> must meet performance and quality standards prescribed by the IRS,
> and the items must reasonable be expected to remain in operation for
> at least three years..."
> 			-CCH Federal Tax Guide, 1984
> 
> I haven't seen any changes in the law (any now would affect 1985
> because 1984 forms are already finalized.  Note: the expenditure is
> "made" when original installation is complete, not when paid for.
> 
> This is filed on form 5695 Residential Energy Credit.
> 
------------------------------------------------------------------------

I just picked up J. K. Lasser's "1984 Income Tax" book this weekend,
so if I read anything further on this energy tax credit, I will let
everybody know.


-- 
	  Russ Sehnoutka  ---------  AT&T Bell Laboratories 
	ihnp4!ihu1e!genesis  ------   Naperville, Illinois