Catherine Posted February 27, 2013 Report Share Posted February 27, 2013 Client brings a receipt for something called an "Aquasmart" -- company info blurb reads, "The Beckett AquaSmart is a universal boiler control designed for use on residential and light commercial boiler systems." The thing guarantees to cut energy use by 10%. It was eligible for a state rebate program but for whatever reason they did NOT take the state rebate. Instead, they want to take the federal energy credit. I cannot see that this thing is eligible. F5695 talks about entire boilers, not small units attached to existing boilers. Tax Book likewise talks about entire new systems. Company info also says nada about federal credits: http://www.beckettcorp.com/Product2/productdetail.asp?detailid=35 Anyone know about these widgets or where I could get more definitive info? TIA, Catherine Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted February 27, 2013 Report Share Posted February 27, 2013 Catherine, have your client find out for themself, let them get the dissapointment when it doesn't qualify for the credit. I made a mistake calling the manufacture of heating system to find out the model what was installed in my client house was not energy efficient, didn't qualify for the credit, plus the model was discontinued like 2 years prior. Client wasn't happy that they didn't return the next year. 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 27, 2013 Author Report Share Posted February 27, 2013 Excellent idea!! Thanks, MAS Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 27, 2013 Report Share Posted February 27, 2013 It does not apply, as your client will find out. They will need certification from the manufacturer that the device qualifies for the Energy Tax Credit. Nothing like those control units is in the IRS list. Quote Link to comment Share on other sites More sharing options...
jainen Posted February 27, 2013 Report Share Posted February 27, 2013 >>Company info also says nada about federal credits<< The energy credits are nothing but lobbyist dreams come true. We are so happy to get a 30% credit that we gladly pay 50% more! Of course, some lobbyists are better at their job than others, so only certain products qualify. Which products? That's up to the manufacturers! Notice 2009-41 says, "a taxpayer claiming a credit for residential energy efficient property should retain the certification statement as part of the taxpayer's records." So ask your client to show you the manufacturer's certification. Quote Link to comment Share on other sites More sharing options...
grmy2h Posted February 28, 2013 Report Share Posted February 28, 2013 It is a water temperature controller. Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 28, 2013 Report Share Posted February 28, 2013 Those energy credits have been a royal pain. I have a client on deck now with all these purchases he thinks qualify, because they DID qualify in some earlier year for somebody. And so I will go the extra mile to prove a negative, which really bites, so he won't lose confidence in me. Last year he had windows that didn't qualify. That was actually pretty easy to prove because the certificate had the area of the country where those windows qualified shaded. There was Tennessee, white as snow. I still have people who can't itemize bringing me their property tax receipts, too. They still think I'm adding it to their standard deduction. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 28, 2013 Report Share Posted February 28, 2013 I still have people who can't itemize bringing me their property tax receipts, too. Work boots, union dues and "Don't forget what I paid YOU last year!!" I fill out the Schedula A, make sure it is in their copies, and everyone is happy!! 2 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 28, 2013 Report Share Posted February 28, 2013 Work boots, union dues and "Don't forget what I paid YOU last year!!" I fill out the Schedula A, make sure it is in their copies, and everyone is happy!! "And don't forget my $236 in "tithes" and the blank donation receipt for my three bags of crap I couldn't sell at the yard sale. Put whatever I'm allowed." lol. 2 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 28, 2013 Report Share Posted February 28, 2013 Me three! I have to do this anyway because Delaware is a state that allows an individual to itemize on the state return even if using the standard for the federal return. 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 28, 2013 Report Share Posted February 28, 2013 Have your client look up his purchases:http://www.energystar.gov/index.cfm?c=tax_credits.tx_index 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 28, 2013 Author Report Share Posted February 28, 2013 Followed MAS's recommendation and had the client call vendor (or manufacturer) and not eligible. Two strong "plus"es for me: I didn't have to make the call myself, and client can't blame me for the bad news. Woo-hoo! 2 Quote Link to comment Share on other sites More sharing options...
mrichman333 Posted March 1, 2013 Report Share Posted March 1, 2013 Work boots, union dues and "Don't forget what I paid YOU last year!!" I fill out the Schedula A, make sure it is in their copies, and everyone is happy!! I do that sometimes also Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 1, 2013 Report Share Posted March 1, 2013 Me three! I have to do this anyway because Delaware is a state that allows an individual to itemize on the state return even if using the standard for the federal return. Me four! In WI the property tax carries over to the State return for a credit; as well as sometimes the itemized deductions are worth a couple of bucks. I always fill out and print the Sch A if they bring in the deductions. As Jack said, it keeps them happy. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted March 1, 2013 Report Share Posted March 1, 2013 Yeah, it's funny, in AR many times they can itemize on the state even though they don't have enough to itemize on the Fed, because the state Std deduction is pretty low. And to get it into the state form, you enter the info in the Federal A. So I had some clients who just "assumed" that they itemized because there was an A in their copies. never looked at the Fed page 2 to see which number was on there. 1 Quote Link to comment Share on other sites More sharing options...
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