I found a HS Tarm Model 2002 102,500 BTU wood gasification boiler for $3k. Should I buy it or wait for a better deal???
bulldogbones said:I'm pretty sure the unit doesn't have to be bought brand new from a dealer but it has to meet the $1500 tax credit criteria. I understand what your saying, that the unit I am talking about might be to old to qualify. I will
have to look into it. Because if it's a gasser and it is meeting the qualifications then it should qualify. I know it doesn't have to be brand new because the corn boiler that I bought last winter and didn't like was two years old but it still qualified for the credit.
pybyr said:Hate to bring the pissoir to the parade, but I wouldn't advise being so quick to "know" that it does not need to be brand new (unless you've come through an audit or have a ruling from the IRS). I believe that the IRC/ IRS regs for the credit are written in terms of "placed in service," and my understanding is that the IRS views that ("placed in service") as being something that happens once, and only once.
ewdudley said:So I'll buy a new boiler and place it in service and take the credit, then it goes to your house and you take the credit on the new price, and so forth down the line. Exactly the same logic as sales tax. How could it be possible that the exact same thing could be forbidden to me but SOP for the state?
pybyr said:bulldogbones said:I'm pretty sure the unit doesn't have to be bought brand new from a dealer but it has to meet the $1500 tax credit criteria. I understand what your saying, that the unit I am talking about might be to old to qualify. I will
have to look into it. Because if it's a gasser and it is meeting the qualifications then it should qualify. I know it doesn't have to be brand new because the corn boiler that I bought last winter and didn't like was two years old but it still qualified for the credit.
Hate to bring the pissoir to the parade, but I wouldn't advise being so quick to "know" that it does not need to be brand new (unless you've come through an audit or have a ruling from the IRS). I believe that the IRC/ IRS regs for the credit are written in terms of "placed in service," and my understanding is that the IRS views that ("placed in service") as being something that happens once, and only once.
Don L said:ewdudley said:So I'll buy a new boiler and place it in service and take the credit, then it goes to your house and you take the credit on the new price, and so forth down the line. Exactly the same logic as sales tax. How could it be possible that the exact same thing could be forbidden to me but SOP for the state?
Sounds like a good idea to me! Lets get 10 guys together and resell the unit to each over a ten day period. Each guy will get $1500.00 from the government for a total of $15,000.00. That will more than pay for the boiler. Count me in if it's legal.
pybyr said:bulldogbones said:I'm pretty sure the unit doesn't have to be bought brand new from a dealer but it has to meet the $1500 tax credit criteria. I understand what your saying, that the unit I am talking about might be to old to qualify. I will
have to look into it. Because if it's a gasser and it is meeting the qualifications then it should qualify. I know it doesn't have to be brand new because the corn boiler that I bought last winter and didn't like was two years old but it still qualified for the credit.
Hate to bring the pissoir to the parade, but I wouldn't advise being so quick to "know" that it does not need to be brand new (unless you've come through an audit or have a ruling from the IRS). I believe that the IRC/ IRS regs for the credit are written in terms of "placed in service," and my understanding is that the IRS views that ("placed in service") as being something that happens once, and only once.
bulldogbones said:pybyr said:bulldogbones said:I'm pretty sure the unit doesn't have to be bought brand new from a dealer but it has to meet the $1500 tax credit criteria. I understand what your saying, that the unit I am talking about might be to old to qualify. I will
have to look into it. Because if it's a gasser and it is meeting the qualifications then it should qualify. I know it doesn't have to be brand new because the corn boiler that I bought last winter and didn't like was two years old but it still qualified for the credit.
Hate to bring the pissoir to the parade, but I wouldn't advise being so quick to "know" that it does not need to be brand new (unless you've come through an audit or have a ruling from the IRS). I believe that the IRC/ IRS regs for the credit are written in terms of "placed in service," and my understanding is that the IRS views that ("placed in service") as being something that happens once, and only once.
I would have expected more from someone with as many posts as you do to have a little more tact and to show documentation for your conclusions. Rather then tell me I have no clue what I am talking about and that I am ( to quick to "know" what I know)
I am here to learn, not to be looked down upon. I know I dont know everythng about wood burning thats why I am here. But the LAST place I would look for tax advise is from a Forum and that goes for any Forum. The only person that I ask tax information from is my accountant.
WoodNotOil said:bulldogbones said:pybyr said:bulldogbones said:I'm pretty sure the unit doesn't have to be bought brand new from a dealer but it has to meet the $1500 tax credit criteria. I understand what your saying, that the unit I am talking about might be to old to qualify. I will
have to look into it. Because if it's a gasser and it is meeting the qualifications then it should qualify. I know it doesn't have to be brand new because the corn boiler that I bought last winter and didn't like was two years old but it still qualified for the credit.
Hate to bring the pissoir to the parade, but I wouldn't advise being so quick to "know" that it does not need to be brand new (unless you've come through an audit or have a ruling from the IRS). I believe that the IRC/ IRS regs for the credit are written in terms of "placed in service," and my understanding is that the IRS views that ("placed in service") as being something that happens once, and only once.
I would have expected more from someone with as many posts as you do to have a little more tact and to show documentation for your conclusions. Rather then tell me I have no clue what I am talking about and that I am ( to quick to "know" what I know)
I am here to learn, not to be looked down upon. I know I dont know everythng about wood burning thats why I am here. But the LAST place I would look for tax advise is from a Forum and that goes for any Forum. The only person that I ask tax information from is my accountant.
bulldogbones - I don't think Pybyr meant it as a put down. He is a lawyer, so probably has experience with the language used in tax law. If you look closely, he is cautioning everyone to not jump to conclusions about what qualifies for the tax credit. Sometimes our messages become a little abrupt due to answering posts quickly in between other things we are doing. I know I have been guilty of it at times too. You will find this is a great place to learn and that everyone is really kind and considerate and helpful. We don't post so many responses to boost our own egos, we do it to contribute and help where we can...
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