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iron

Minister of Fire
Sep 23, 2015
621
southeast kootenays
@BKVP
Is the tax credit only for fully installed units in the US? Could I not buy a stove and bring it across the border and still get the tax credit? I'm still a US taxpayer and this is the first partial year here, so I will still likely have US taxes owed (instead of Canadian taxes exceeding US taxes)

@ABMax24
Do you have a specific link to an article that would discuss tax credits/incentives for solar installs?
 

bholler

Chimney sweep
Staff member
Jan 14, 2014
26,094
central pa
@BKVP
Is the tax credit only for fully installed units in the US? Could I not buy a stove and bring it across the border and still get the tax credit? I'm still a US taxpayer and this is the first partial year here, so I will still likely have US taxes owed (instead of Canadian taxes exceeding US taxes)

@ABMax24
Do you have a specific link to an article that would discuss tax credits/incentives for solar installs?
Unless you pay American taxes there would be no way to get the credit. If you do it may be possible but I am not sure.
 

iron

Minister of Fire
Sep 23, 2015
621
southeast kootenays
This particular year (2021), I believe I will have more taxable income in the US compared to in Canada, and thus will need to settle up with Uncle Sam first. In future years, my Canadian taxes will always be higher and be 'credited' to the IRS
 

bholler

Chimney sweep
Staff member
Jan 14, 2014
26,094
central pa
This particular year (2021), I believe I will have more taxable income in the US compared to in Canada, and thus will need to settle up with Uncle Sam first. In future years, my Canadian taxes will always be higher and be 'credited' to the IRS
In that case it would certainly be worth investigating more
 

BKVP

Minister of Fire
Unless you pay American taxes there would be no way to get the credit. If you do it may be possible but I am not sure.
The tax credit is for your primary and secondary home (if a person is so fortunate to have one). I'm not a tax expert but have read the 25D multiple times. I interpret it to apply to US residences.....BUT ASK YOUR ACCOUNTANT.
 

BKVP

Minister of Fire
I will inquire of an associate that helped in the process and get back to you.
 
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Reactions: iron

BKVP

Minister of Fire
My question below, response at top: She was instrumental in this tax credit and lives in DC.

Hi Chris,

You are correct. The property in which the qualifying stove is being installed must be located in the United States. The individual is welcome and encouraged to consult their tax preparer for additional guidance.

This is the first time I’ve received this question, so unless I get the same question from a different person, I won’t be adding it to the FAQs on our website. But if another person does ask, then I’ll add it to the FAQs.



From: Chris
Sent: Tuesday, October 5, 2021 7:18 AM
Subject: 25D

Good morning. If an individual pays taxes in the US but currently lives in Canada, buys a stove in the US, can they get the tax credit for the installation done in Canada? I'm inclined to say no and advised they seek input from tax preparer.

Thanks
Chris
 

bholler

Chimney sweep
Staff member
Jan 14, 2014
26,094
central pa
My question below, response at top: She was instrumental in this tax credit and lives in DC.

Hi Chris,

You are correct. The property in which the qualifying stove is being installed must be located in the United States. The individual is welcome and encouraged to consult their tax preparer for additional guidance.

This is the first time I’ve received this question, so unless I get the same question from a different person, I won’t be adding it to the FAQs on our website. But if another person does ask, then I’ll add it to the FAQs.



From: Chris
Sent: Tuesday, October 5, 2021 7:18 AM
Subject: 25D

Good morning. If an individual pays taxes in the US but currently lives in Canada, buys a stove in the US, can they get the tax credit for the installation done in Canada? I'm inclined to say no and advised they seek input from tax preparer.

Thanks
Chris
Well there is the answer. I kind of assumed that would be the case but good to have a definite answer