Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 7, Problem 23P
To determine

Introduction: The energy credit is allowed to taxpayers on the purchase of plug-in electric drive vehicles for business or personal purposes. The eligible credit is between $2,500 and $7,500 for light-duty vehicles, depending on the battery capacity and weight of the vehicle.

The amount of credit M can claim on solar electric pump at the cost of $2,500.

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