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tax credit for small wind


By dlenox, Section Reviews
Posted on Fri Mar 13, 2009 at 05:59:38 PM MST
American Recovery and Re-investment Act of 2009

All,

Recently a friend of mine told me about the new federal tax legislation signed into law - the American Recovery and Re-investment Act of 2009.

This change allows consumers and small businesses to deduct from their tax liability 30% off the installed cost of a wind turbine.

I saved the federal tax form #5695 on my website if you need it.

Dan Lenox
tax credit for small wind | 5 comments (5 topical)

Re: tax credit for small wind (3.00 / 0) (#1)
by g reif on Fri Mar 13, 2009 at 02:15:38 PM MST

what are the max amounts that they give back with this bill, I have forgotten. The old one had limits not sure on this one.
g reif


Re: tax credit for small wind (3.00 / 0) (#2)
by electronbaby on Fri Mar 13, 2009 at 03:17:15 PM MST

The old one had a cap of $4000. The current bill removed the cap and now you are allowed to take a full 30%. This goes for Solar PV, Wind, and Solar DHW as well. We always advise our customers to speak with their accountants as well, however, many accountants are unfamiliar with these new rules also.
Have Fun!! RoyR KB2UHF
[ Parent ]


Re: tax credit for small wind (3.00 / 0) (#3)
by halfcrazy on Sat Mar 14, 2009 at 05:10:53 AM MST

the tax form you linked is capped at 2000 for solar and 1000 a kw for wind? i was under the impression the new bill lifted the caps?


Re: tax credit for small wind (3.00 / 0) (#4)
by dlenox on Sun Mar 15, 2009 at 03:13:38 PM MST

caps are lifted if put into service in 2009, 2008 still has cap.

dan

[ Parent ]



Re: tax credit for small wind (3.00 / 0) (#5)
by domeguy on Tue Mar 31, 2009 at 03:53:17 PM MST

Related question:
Does anybody know if the costs for a battery or generator can be included?


tax credit for small wind | 5 comments (5 topical)
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Related Links
· federal tax form #5695
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