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EPACT 2005 - Commercial Lighting Tax Deduction

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    #1

    EPACT 2005 - Commercial Lighting Tax Deduction

    Anyone dealt with this deduction? I have a client that should qualify for the deduction but I wasn't sure what I needed to do to make sure that everything is handled properly. Any assistance would be appreciated.

    Thanks in advance.
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    #2
    Anyone?

    Does anyone even know where the deduction is taken? Is it something that appears on the 4562?

    Comment

      #3
      The EPACT 2005 is the bill that created all the energy tax credits. This site has some useful links. http://www.energy.gov/taxbreaks.htm
      In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
      Alexis de Tocqueville

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        #4
        Section 179D

        OK... It appears that it falls under Section 179D and that the deduction is taken as an "other deduction" on Form 1120.

        What I can not find is whether it is subject to ALL the limitations that normally apply to Section 179 deductions. Income, property placed in service, etc.



        Steve

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