A client was told by his builder that his rental property will qualify for a residential energy credit in 2022. Does anyone have information on this?

Forum|Forum|3 years ago
November 16, 2022
9 replies
46 views

The property is held in a partnership.

ProSeries Professional

This topic has been closed for replies.

abctax55

Level 15

I suggest some CPE on what the Inflation Reduction Act included regarding energy credits.

HumanKind... Be Both

abctax55

Level 15

Also - google is your friend:

https://search.yahoo.com/yhs/search?hspart=avg&hsimp=yhs-securebrowser&type=8153&param1=e0f50a024ae149708dde1d0eb760e439&param2=20181119&param3=AVG%20Secure%20Browser|86.0.6536.113&param4=17|US||&p=residential+energy+tax+credits+for+2022

HumanKind... Be Both

abctax55

Level 15

Well, crap... the link I posted isn't working and for some reason I can't edit my post ???

Here's a bone tho, yes - partnerships can avail themselves of credits that are then passed thru on the K-1.

HumanKind... Be Both

T

TaxGuyBill

@abctax55 wrote:

for some reason I can't edit my post ???

Yeah, somebody disabled the ability to edit posts a couple of weeks ago. It's driving me crazy.

S

Skylane

Intuit Community Champion

Excellent. Since the builder is aware of the tax credits…. Your client should tell the builder that the builder should provide the appropriate documentation, ie. energy star labels and receipts for items they purchased or installed for which the credit may be claimed

If at first you don’t succeed…..find a workaround