SIERRA PACIFIC INDUSTRIES

9 Northern California Manufacturing Centers

Douglas Fir, Incense Cedar, Ponderosa Pine, Sugar Pine, and White Fir. Green & Kiln Dried.

MOULDINGS:

LUMBER SALES:

Chico Ca. (916) 895-3311

Al Ryan Paul Bean

Redding, Ca. (916) 275-8812 perty. Landlords are not entitled to take this credit on energy saving improvements on rental property. But tenants can take the credit for expenditures made on rented property, provided it is their principal residence.

Ron Hoppe, George Rogers, George Sharp, Paul Trueb, Bill Wessner and Sam Witzel.

Cooperative and condominium owners are also entitled to the credit, according to the Coopers & Lybrand report.

As a general rule, expenditures are treated as made when installation of the item is completed, according to Coopers & Lybrand. If insulation was ordered and paid for in December 1978, but wasn't installed until 1979, the taxpayer has to wait until filing his 1979 tax return before claiming the credit. However, in the case of the installation of a property which uses renewable energy (solar) in connection with the building of a new home, the expenditures are taken into account in the year that home was occupied or the year the installation of the system is completed, whichever is later.

Coopers & Lybrand says an important point to remember is that the credit is retroactive for expenditures made on or after April 20, 1977. However, there is a special rule with respect to expenditures made in 1977. These are to be claimed on 1978 tax returns and are not allowed to be filed on amended tax returns for the 1977 tax year.

The Coopers & Lybrand analysis states that the credit is cumulative. That is, expenditures qualify for the credit until their total surpasses the specified limits, which apply for