Hi,
Client owns 2 homes - one that he lived in and the other being renovated where he intends to move into after the renovations are done. Part of the renovations were some significant improvements (solar, water heater etc). Do these qualify for the credit being that he did not live there? Thank you!
Great question!
Have you read the instructions to 5695?
What do you know about this so far?
So specifically my client had the following and looking at the instructions this is what I gather
- solar panels - doesn't have to be a main home
- electric heat pump water heater - in connection with a home that you used during 2024 located in the United States
- heat pump (I assume geothermal because of the cost, but will clarify) - doesn't have to be a main home
The other thing is the invoices for the last 2 are in the contractor's name, not my client's. Would he still qualify?
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