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Utah Renewable Energy Systems Tax Credit

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Utah Renewable Energy Systems Tax Credit

Answer
Renewable Residential Energy Systems Tax Credit
Get form TC-40E, Renewable Residential and Commercial Energy Systems Tax Credits, from the Utah Geological Survey with their certification stamp, verifying the credit is approved and showing the amount of the approved credit. Do not send form TC-40E with your return. Keep the form and all related documents with your records.
This credit is for reasonable costs, including installation, of a residential energy system that supplies energy to a Utah residential unit. Additional residential energy systems or parts may be claimed in following years as long as the total amount claimed does not exceed $2,000 per residential unit. If the residence is sold to a non-business entity before claiming the tax credit, you may irrevocably transfer the right to the tax credit to the new owner. The principal portion of the system's lease payments may qualify for the credit if the lessor irrevocably transfers the right to the tax credit to the new owner.
Note: Any credit that is more than the tax liability may be carried forward as a credit for the next four years. Contact the Utah Geological Survey (UGS), 1594 W North Temple, Box 146100, SLC, UT 84114-6100, 801-537-3300, or go to geology.utah.gov/sep/incentives/index.htm for more information.

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Views: 405 Created on: Jun 15, 2013
Date updated: Oct 10, 2014

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