What ENERGY TAX CREDIT--RESIDENTIAL PROPERTY means: Taxpayers may be able to take a credit equal to the sum of: (1) 10% of the amount paid in 2006 for qualified energy efficiency improvements (for example, insulation, exterior windows, and exterior doors) installed during 2006, and (2) Any residential energy property costs (for example, qualified furnaces, water heaters, and heat pumps) paid in 2006. Several dollar limits apply to the credit. A credit also may be claimed for 30% of the cost of qualified photovoltaic property, solar water heating property, and fuel cell property. Dollar limits also apply to this credit. See Form 5695 for more information.
- Definition Employee:
- Dictionary purposes, an employee is an individual who is subject to the will and control of the employer not only as to what shall be done but also as to how it shall be done. An employee is to be distinguished energy tax credit--residential property definition.
- Definition Entertainment Expenses:
- Dictionary deductible by employees and self-employed taxpayers only if the expenses are directly related to or associated with a trade, business, or profession. To prevent abuses, strict substantiation energy tax credit--residential property explain.
- Definition Exclusion Percentage:
- Dictionary percentage is used to compute the excludable amount of a pension under the general rule. This percentage is determined by dividing the taxpayer's total contribution by the expected return energy tax credit--residential property what is.
- Definition Excludable Amount Of Pension:
- Dictionary The portion of pension distributions that is not taxable energy tax credit--residential property meaning.
How works Energy Tax Credit meaning in Tax definitions E .
