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Subject Author Date
VITA/TCE Volunteer training skier 12-17-2006
Posted by A.G. Kalman on December 20, 2006, 10:30 pm
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 skier wrote:

> I passed the online test for basic and intermediate. I missed
> a couple, and it would be nice if they would give the correct
> answers on those you miss. I know my mistake on one, but do
> not understand the second. It has to do with residential
> energy credit. The subject purchased an exterior door for $700
> and the cost of installation was $300. I could not find any
> mention in the information I have if labor could be included
> in the cost. I said the rebate should be 10% of $1000 which
> was wrong. Is the labor cost not included?
>
> Mike
>
> Moderator:
> Either that or the door does not qualify.

In IRS Notice 2006-26, you will find the guidance for both
the Qualified Energy Efficiency Improvements Credit and the
Residential Energy Property Credit. The door in question
falls into the first category and is categorized as an
Eligible Building Envelope Component. As such, the notice
states:

.06 Installation Costs. With respect to Eligible Building
Envelope Components, the credit is allowed only for amounts
paid or incurred to purchase the components. The credit is
not allowed for amounts paid or incurred for the onsite
preparation, assembly, or original installation of the
components.

Items that qualify for the Residential Energy Property
Credit (second category above) can include the installation
cost.

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<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
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Posted by Arthur Kamlet on December 20, 2006, 10:30 pm
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> I passed the online test for basic and intermediate. I missed
> a couple, and it would be nice if they would give the correct
> answers on those you miss. I know my mistake on one, but do
> not understand the second. It has to do with residential
> energy credit. The subject purchased an exterior door for $700
> and the cost of installation was $300. I could not find any
> mention in the information I have if labor could be included
> in the cost. I said the rebate should be 10% of $1000 which
> was wrong. Is the labor cost not included?
>
> Mike
>
> Moderator:
> Either that or the door does not qualify.

Installation bought at time of purchase and not a separate
fee for on site preparation, is part of the cost to which
the 10% applies. If I recall the official answer it was 10%
of the installation as well.

__
Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

<< ======================================================= >>
<< 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 (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by rbristol on December 20, 2006, 10:30 pm
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skier wrote:

> I passed the online test for basic and intermediate. I missed
> a couple, and it would be nice if they would give the correct
> answers on those you miss. I know my mistake on one, but do
> not understand the second. It has to do with residential
> energy credit. The subject purchased an exterior door for $700
> and the cost of installation was $300. I could not find any
> mention in the information I have if labor could be included
> in the cost. I said the rebate should be 10% of $1000 which
> was wrong. Is the labor cost not included?
>
> Mike
>
> Moderator:
> Either that or the door does not qualify.

Don't despair: there seems to be a mistake in the test
answers.

<< ======================================================= >>
<< 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 (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by skier on December 22, 2006, 1:53 am
Please log in for more thread options
Thanks to all who replied to my request for help.

Mike

<< ======================================================= >>
<< 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 (2006) - All rights reserved. >>
<< ======================================================= >>

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