Source: https://law.justia.com/codes/us/2006/title26/subtitlea/chap1/subchapa/partiv/subparta/sec25d
Timestamp: 2019-12-09 18:10:26
Document Index: 34953755

Matched Legal Cases: ['§1335', '§402', '§206', '§25', '§1335', '§402', '§206']

26 U.S.C. 25D - Sec. 25D - Residential energy efficient property :: 2006 US Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes US Code 2006 US Code Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter A - Determination of Tax Liability PART IV - CREDITS AGAINST TAX Subpart A - Nonrefundable Personal Credits Sec. 25D - Residential energy efficient property
Subpart A - Nonrefundable Personal Credits
Sec. 25D - Residential energy efficient property
Publication Title United States Code, 2006 Edition, Title 26 - INTERNAL REVENUE CODE
Contains section 25D
Source Credit Added Pub. L. 109-58, title XIII, §1335(a), Aug. 8, 2005, 119 Stat. 1033; amended Pub. L. 109-135, title IV, §402(i)(1), (2), (3)(E), Dec. 21, 2005, 119 Stat. 2612, 2614; Pub. L. 109-432, div. A, title II, §206, Dec. 20, 2006, 120 Stat. 2945.
Statutes at Large References 119 Stat. 1033, 2612
Public Law References Public Law 107-16, Public Law 109-58, Public Law 109-135, Public Law 109-432
§25D. Residential energy efficient property (a) Allowance of credit
(3) 30 percent of the qualified fuel cell property expenditures made by the taxpayer during such year.
(b) Limitations (1) Maximum credit
The credit allowed under subsection (a) (determined without regard to subsection (c)) for any taxable year shall not exceed—
(A) ,000 with respect to any qualified solar electric property expenditures,
(B) ,000 with respect to any qualified solar water heating property expenditures, and
(C) 0 with respect to each half kilowatt of capacity of qualified fuel cell property (as defined in section 48(c)(1)) for which qualified fuel cell property expenditures are made.
(c) Carryforward of unused credit (1) Rule for years in which all personal credits allowed against regular and alternative minimum tax
In the case of a taxable year to which section 26(a)(2) does not apply, if the credit allowable under subsection (a) exceeds the limitation imposed by section 26(a)(1) for such taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, and 25B), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such succeeding taxable year.
(4) Dollar amounts in case of joint occupancy
In the case of any dwelling unit which is jointly occupied and used during any calendar year as a residence by two or more individuals the following rules shall apply:
(A) Maximum expenditures.—The maximum amount of expenditures which may be taken into account under subsection (a) by all such individuals with respect to such dwelling unit during such calendar year shall be—
(i) ,667 in the case of any qualified solar electric property expenditures,
(ii) ,667 in the case of any qualified solar water heating property expenditures, and
(iii) ,667 in the case of each half kilowatt of capacity of qualified fuel cell property (as defined in section 48(c)(1)) for which qualified fuel cell property expenditures are made.
(B) Allocation of expenditures.—The expenditures allocated to any individual for the taxable year in which such calendar year ends shall be an amount equal to the lesser of—
(C) Subparagraphs (A) and (B) shall be applied separately with respect to expenditures described in paragraphs (1), (2), and (3) of subsection (d).
(6) Condominiums (A) In general
(8) When expenditure made; amount of expenditure (A) In general
The credit allowed under this section shall not apply to property placed in service after December 31, 2008.
(Added Pub. L. 109–58, title XIII, §1335(a), Aug. 8, 2005, 119 Stat. 1033; amended Pub. L. 109–135, title IV, §402(i)(1), (2), (3)(E), Dec. 21, 2005, 119 Stat. 2612, 2614; Pub. L. 109–432, div. A, title II, §206, Dec. 20, 2006, 120 Stat. 2945.)