Choose the correct statement:a. A taxayer may receive a 30-percent credit for installing energy-efficient window shades. b. A taxpayer may receive a 30-percent credit for installing a windmill, which generates electricity, at his vacation home. c. A taxpayer may receive a 30-percent credit for installing a solar water-heating panel for his swimming pool. d. A taxpayer may receive a 30-percent credit for the purchase of a plug-in electric vehicle

Question

Blevins

Business

8 July, 14:48

Choose the correct statement:a. A taxayer may receive a 30-percent credit for installing energy-efficient window shades. b. A taxpayer may receive a 30-percent credit for installing a windmill, which generates electricity, at his vacation home. c. A taxpayer may receive a 30-percent credit for installing a solar water-heating panel for his swimming pool. d. A taxpayer may receive a 30-percent credit for the purchase of a plug-in electric vehicle

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Answers (1)

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Rodney Leach · Answer 1

b. A taxpayer may receive a 30-percent credit for installing a windmill, which generates electricity, at his vacation home.

Explanation:

During 2019, a taxpayer may claim a 30% credit of qualified costs for small wind-energy property that serves a U. S. dwelling owned and used as a residence by the taxpayer. The home does not have to be the taxpayer's principal residence; second homes also qualify.

Note that choice (c) is incorrect because while solar energy property, like a solar water-heating system, also qualifies for a 30% federal tax credit, an exception applies to property for swimming pools or hot tubs.