Solar Water Heater - Refdable or NonRefdable both Fed & AZ

[AZ-Tax]

From what my software is telling me and what I read in both TTB and AZ website, this is a NON refundable credit but does carry forward. Correct?

[taxea]

if it does carry forward it should specifically state that it does. What does the IRS Pub or instructions say?

[AZ-Tax]

Ttb 11-14

Mentions "nonbusiness energy property" being nonrefundable. Am I to believe nonbusiness energy is aka Residential energy property?

[Gary2]

The Non-business Energy Credit and Residential Energy Credits are two different credits, with two different sets of rules. They're both non-refundable.

The Non-business Energy Credit has the maximum lifetime amount of $1500 and does not carry forward. This includes qualifying insulation, windows, doors, conventional boilers, furnaces, central air, etc.

The Residential Energy Credit has no lifetime maximum amount and does carry forward. This includes qualifying solar, wind, geothermal, fuel cell, etc.

[AZ-Tax]

They are or they are not refundable Gary?

The Non-business Energy Credit and Residential Energy Credits are two different credits, with two different sets of rules. They're both non-refundable.

The Non-business Energy Credit has the maximum lifetime amount of $1500 and does not carry forward. This includes qualifying insulation, windows, doors, conventional boilers, furnaces, central air, etc.

The Residential Energy Credit has no lifetime maximum amount and does carry forward. This includes qualifying solar, wind, geothermal, fuel cell, etc.

In your first line you say both are not then in the last line you say Residential is refundable?

[Davc]

He said it carries forward. NOT that it's refundable.

[AZ-Tax]

My apology Gary, I read wrong.

Man I wish these places that sell these tax credit items SHUT THEIR MOUTHS about tax related issues.

[Gary2]

I don't install windows, doors, or furnaces, nor sell real estate or cars. They don't do taxes. It's a gentleman's agreement that they sometimes forget.

[taxea]

AZ-Clear your messages

I tried to send you a private message...this is what I got

AZ-Tax has exceeded their stored private messages quota and can not accept further messages until they clear some space.

[newbie]

Some one is gonna get scolded! LOL