Customer Tax Credit Information

[JWalmsley]

FEDERAL INCOME TAX CREDIT FOR QUALIFIED SOLAR ELECTRIC EXPENDITURES

• The Residential Clean Energy Credit (“CEC”) provides taxpayers with a credit in an amount equal to 30% of the costs of new, qualified clean energy property installed anytime from 2022 through 2032.¹
• The CEC applies to costs towards the purchase of property which which uses solar energy to generate electricity for use in a dwelling unit located in the United States and used as a primary or secondary residence.²
• As relevant to the CEC, a “dwelling unit” generally includes mobile homes having basic living accommodations such as sleeping space, toilet, and cooking facilities (as are included with each Oliver Travel Trailers model).³
• Property eligible for the CEC includes new solar panels, qualifying batteries having a capacity of at least 3 kilowatt hours, and related storage components (e.g., inverters, wiring, and monitoring equipment).
• If applicable, the CEC will reduce, on a dollar-for-dollar basis, the consumer’s federal income tax liability in the year of purchase. Excess unused credits can be forward to future years.

ILLUSTRATIVE TAX BENEFITS

Solar Package	Lithium Pro	Lithium Platinum
Legacy Elite	$5,330	N/A
Tax Credit (At 30%)	$1,599	N/A
Legacy Elite II	$7,120	$12,425
Tax Credit (At 30%)	$2,136	$3,728

CLAIMING THE CREDIT

• After purchasing your Oliver Travel Trailers camper with solar package, keep your receipts for the total price paid to document your eligibility for the CEC.
• Include Form 5695, Residential Energy Credits, with your tax return to claim the credit. When filing, include the tax credit calculated on Form 5695 onto your IRS Form 1040 and file your tax return with the IRS to receive the credit.
• Depending on your state of residence, additional state tax credits may be available.

The information contained in this summary is informational in nature, is not a warranty or certification as to applicability of any tax credits to the products described herein and should not be construed as tax advice to any specific individual or entity. Customers should consult with their own tax advisor with respect to your eligibility for the credit.

₁ IRC § 25D(g)(3).
₂ IRC §§ 25D(d)(2); 280A(f)(1)(A); IRS Notice 2013-70, 2013-47 I.R.B. 528 (11/1/2013).
₃ Prop. Reg. 1.280A-1(c)(1)

https://olivertraveltrailers.com/tax-credit-information/

Edited November 7 by ScubaRx

[GraniteStaters]

The math on the credit for Lithium Pro on LEII looks like it is off.  30 percent of $7120.00 isn't $7120.

[ScubaRx]

On 6/24/2024 at 6:24 AM, GraniteStaters said:

The math on the credit for Lithium Pro on LEII looks like it is off.  30 percent of $7120.00 isn't $7120.

You are correct. I changed @JWalmsley numbers.