Posted on: 30th Apr, 2009 05:55 pm
The credits available for qualifying purchases refer to installing in a qualifying dwelling unit "as a dwelling unit that is located in the United States and is used as a residence by the taxpayer." I live in my owner occupied duplex and am putting in qualified equipment for the credit in the unit that I rent. Do you know if I can claim this as a tax credit since it is going in the rented unit? I have found on other web sites that this qualify equipment will not be eligible for rental property however it does not clarify if "owner occupied" is eligible or not.
Hi loris!
Welcome to forums!
It is correct that rental properties do not qualify for tax credit. However, as yours is a owner occupied rental property, I think, you may get the benefit of the tax credit. I would suggest you to contact a tax adviser and take his opinion on this issue. He will be the best person to help you out.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
It is correct that rental properties do not qualify for tax credit. However, as yours is a owner occupied rental property, I think, you may get the benefit of the tax credit. I would suggest you to contact a tax adviser and take his opinion on this issue. He will be the best person to help you out.
Feel free to ask if you have further queries.
Sussane
I think Smith is correct.
Since it is owner occupied it may qualify.
Since it is owner occupied it may qualify.