subsection (a) shall be treated as made on the later of the due date of the return of tax (determined without extensions) for such taxable year or the date on which such return is filed. (c) Exclusion from gross income Gross income of the taxpayer shall be determined without regard to this section. (d) Denial of double benefit Solely for purposes of section 38, in the case of a taxpayer making an election under this section, the energy credit determined under section 48 or the renewable electricity production credit determined under section 45 shall be reduced by the amount of the portion of such credit with respect to which the taxpayer makes such election. (e) Special rules (1) In the case of a taxpayer making an election under this section, the credit subject to such an election shall be determined notwithstanding— (A) section 50(b)(3)