Form 5695-K 2015 - Kentucky Department Of Revenue - Kentucky Energy Efficiency Products Tax Credit Page 3
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45695–K
Page 3
INSTRUCTIONS FOR FORM 5695–K
41A720–S7 (10–15)
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
Purpose of Form—This form is used by a taxpayer to claim a tax
electric heat pump water heater; (b) An electric heat pump; (c) A
credit for installation of energy efficiency products for residential
closed loop geothermal heat pump; (d) An open loop geothermal
and commercial property as provided by KRS 141.436. The
heat pump; (e) A direct expansion (DX) geothermal heat pump; (f)
nonrefundable credit shall apply against tax imposed under KRS
A central air conditioner; (g) A natural gas, propane, or oil furnace
141.020 or 141.040, and KRS 141.0401 for taxable years beginning
or hot water heater; (h) A hot water boiler including outdoor wood–
after December 31, 2008, and before January 1, 2016. An unused
fired boiler units; or (i) An advanced main air circulating fan.
tax credit may be carried forward one year.
Line 14—Enter the amount on Line 13 multiplied by 30 percent (.30).
PART I – QUALIFICATIONS
Line 15—Enter the total of the amounts from Form 720S, Schedule
The tax credit provided by KRS 141.436 shall apply in the tax year in
K–1, Line 29 and from Form 765 or Form 765–GP, Schedule K–1,
which the installation is complete. If the installation was completed
Line 30.
before January 1, 2015, or after December 31, 2015, you do not
qualify for this credit. If you have taken the ENERGY STAR home
Line 16—Enter the total of Lines 14 and 15.
or the ENERGY STAR manufactured home tax credit provided by
KRS 141.437, you do not qualify for this credit.
Line 18—Enter the smaller of Line 16 or Line 17.
A taxpayer and spouse may each file Form 5695-K, Kentucky Energy
Line 19—Enter the total of Lines 6, 12, and 18.
Efficiency Tax Credit, regardless of their filing status, and each of
them may claim up to the maximum credit subject to the limitation
Line 21—Enter the smaller of Line 19 or Line 20.
provided for each type of energy efficiency product. However, the
cost of qualified energy efficiency products shall not be claimed
Taxpayer’s Residence or Single–family Residential Rental Unit:
more than once.
Line 22—Enter the installed cost of a qualified active solar
PART II – INSTALLATION OF ENERGY EFFICIENCY PRODUCTS
space–heating system. KRS 141.435(1) provides that “active solar
space–heating system” means a system that: (a) Consists of solar
Taxpayer’s Residence or Single–family or Multifamily Residential
energy collectors that collect and absorb solar radiation combined
with electric fans or pumps to transfer and distribute that solar
Rental Unit:
heat; (b) May include an energy storage space–heating system to
Line 1—Enter the installed cost of qualified upgraded insulation.
provide heat when the sun is not shining; and (c) Is installed by a
KRS 141.435(15) provides that “upgraded insulation” means
certified installer.
insulation with the following R–value ratings: (a) Attic insulation
rated R–38 or higher; (b) Exterior wall, crawl space, and basement
Line 23—Enter the installed cost of a qualified passive solar space–
exterior wall insulation rated R–13 or higher; and (c) Floor insulation
heating system. KRS 141.435(11) provides that “passive solar
rated R–19 or higher.
space–heating system” means a system that: (a) Takes advantage
of the warmth of the sun through the use of design features such
Line 2—Enter the amount on Line 1 multiplied by 30 percent (.30).
as large south–facing windows and materials in the floors or walls
that absorb warmth during the day and release that warmth at
Line 3—Enter the total of the amounts from Form 720S, Schedule
night; (b) Includes one or more of the following designs: (i) Direct
K–1, Line 27 and from Form 765 or Form 765–GP, Schedule K–1,
gain which stores and slowly releases heat energy collected from
Line 28.
the sun shining directly into the building and warming materials
such as tile or concrete; (ii) Indirect gain which uses materials that
Line 4—Enter the total of Lines 2 and 3.
are located between the sun and the living space such as a wall to
hold, store, and release heat; or (iii) Isolated gain which collects
Line 6—Enter the smaller of Line 4 or Line 5.
warmer air from an area that is remote from the living space,
such as a sunroom attached to a house, and the warmer air flows
Line 7—Enter the installed cost of qualified energy–efficient
naturally to the rest of the house; and (c) Meets the guidelines and
technical requirements for passive solar design.
windows and storm doors. KRS 141.435(8) provides that “energy–
efficient windows and storm doors” means windows and storm
doors that are: (a) ENERGY STAR–labeled; and (b) Certified by the
Line 24—Enter the installed cost of a qualified combined active solar
National Fenestration Rating Council as meeting the North–Central
space–heating and water–heating system. KRS 141.435(3) provides
U.S. climate zone performance standards for U–factor (nonsolar
that a “combined active solar space–heating and water–heating
heat conductance), solar heat gain coefficient, air leakage, visible–
system” means a system that meets the requirements of both
light transmittance, and condensation resistance.
an active solar space–heating system and a solar water–heating
system and is installed by a certified installer.
Line 8—Enter the amount on Line 7 multiplied by 30 percent (.30).
Line 25—Enter the installed cost of a qualified solar water–heating
Line 9—Enter the total of the amounts from Form 720S, Schedule
system. KRS 141.435(14) provides that a “solar water–heating
K–1, Line 28 and from Form 765 or Form 765–GP, Schedule K–1,
system” means a system that: (a) Uses solar–thermal energy to
Line 29.
heat water; (b) Is an indirect pressurized glycol system that uses
propylene glycol or an indirect drainback system that uses distilled
Line 10—Enter the total of Lines 8 and 9.
water or propylene glycol; (c) Uses OG–100 solar thermal collectors
that are certified by the Solar Rating and Certification Corporation
Line 12—Enter the smaller of Line 10 or Line 11.
and covered by a manufacturer’s warranty of not less than five
years; (d) Is installed by a certified installer; and (e) Is warranted
Line 13—Enter the installed cost of qualified energy property.
by the certified installer for a period of not less than two years.
KRS 141.435(12) provides that “qualified energy property” means
the following property that meets the performance, quality, and
Line 26—Enter the installed cost of a qualified wind turbine or
certification standards of and that would have been eligible for
wind machine. KRS 141.435(16) provides that a “wind turbine” or
the federal tax credit for residential energy property expenditures
“wind machine” means a turbine or machine used for generating
under 26 U.S.C. § 25C, as it existed on December 31, 2007: (a) An
electricity that: (a) Is certified as meeting the U.S. Wind Industry
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