Question: Problem 2 Your Partner brings you information dropped off by one of his clients, Dr. Daniel Caligari. Looking at his prior year return you

Problem 2 Your Partner brings you information dropped off by one of his clients, Dr. Daniel Caligari. Looking at his prior year return you expect his 2023 income tax to be About $150,000, So he should have sufficient tax to absorb the credits. The client has invested a sizeable amount of his funds in clean energy products and devices for his home. The client's tax return from last year indicates that the client takes advantage of IRC 5280A. All you have is a bunch of receipts and the limited guidance of the partner who says to you, "See if you can figure this out. This energy credit stuff was in that 2022 Act or something." You see something written on one of the receipts which states FS-2022-40 December 2022. You pull that up and start reading up. on the Residential Clean Energy Property Credit. You separate and categorize the receipts and create a spreadsheet based on the information you have found in the IRS notices and publications. You search for and find the form and instructions which are required to report the Residential Energy Cradit and fill out the Form based on the information provided Home Energy Audit $5,000 Energy Efficient Home Improvements $3,000 Solar Panels $10,000 Installation Costs $20,000 solar water heaters $15,000 Installation Costs $10,000 Batteries to Back Up Solar $25,000 battery storage technology expenditures $15,000. Fuel Cell Expenditures $10,000 Installation Costs $5,000 1. Which Code sections and IRS Publications cover Residential Clean Energy Property Credit? 2. What Form or forms are associated with Residential Clean Energy Property Credit expenses? 3. Using the facts provided, Fill out and up load the Forms to obtain the maximum credits available for Dr. and Ms. Caligari.
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