Hi all,
Just wanted your thoughts on figuring the "cost" for form 5695, specifically the treatment of rebates.
So for example:
System Cost = 50,000
System Discount (from provider) = 15,000
Total = 35,000
Then the rebates kick in:
NY State rebate (NYSERDA) = 17,500
ConEdison (gas/elec supplier) rebate = 2,500
Now, my assumption is that the NY State rebate should be treated as part of the "cost", as otherwise you'd be double dipping state and federal?
What about the utility supplier? Should this be included also? I figured yes, otherwise, it would be income, right and get taxed there? Or another alternative?
Thoughts welcomed!
