Up To $500 Energy Tax Credit
The 2011 Energy Tax Credit and You
With the passage of the 2011 Tax Bill, homeowners may be eligible for a tax credit if they purchase certain types of heating, ventilation and air conditioning (HVAC) systems, water heating equipment, or make other energy-related improvements to their homes between January 1, 2011 and December 31, 2011.
As a leader in enabling homeowners to take control of their own energy management, Trane already offers systems that may help you save up to 60 percent on your energy bill.1 To add to that savings, Trane offers many products that are eligible under this new energy tax credit law. Depending on the type of system or product purchased, it is possible to qualify for a tax credit of up to $500 on your 2011 income tax return.
Which products are eligible?
Some - but not all - of Trane's products may qualify for the tax credit. You can visit www.trane.com/taxcredit to find a listing of the specific products that qualify, as well as print off your tax certification. In addition, you'll find the government's summary of Energy Star products that are eligible for HVAC credits. As always, you can also contact your local independent Trane dealer who can help you determine product model numbers if necessary.
How do I apply for a tax credit?
For qualified improvements, homeowners may be able to claim tax credits equal to 10 percent of the installed costs (up to $500). The new tax credits are valid from January 1, 2011 to December 31, 2011.
The tax credit applies as a direct reduction of taxes owed. In the past, IRS has directed taxpayers to use Form 5695 (the Residential Energy Efficient Property Credit). It is expected that the IRS will produce new rules related to the recently enacted stimulus legislation, giving taxpayers further guidance on claiming tax credits. To fully understand how the new tax credit may apply to you and what you can do to obtain one, you should consult with a tax professional for advice on tax preparation, as this tax credit is subject to IRS regulations.
How do I learn more about Trane’s energy
efficient products?
Trane is committed to providing your family with a system that is tailored to your specific needs. Click here for more information about Trane matched systems that are designed to give you the best performance for your heating and cooling dollars. In addition, you can also always call Melton Heating & Air Conditioning today at (865) 457-6898 or (865) 690-8883.
1 Potential energy reduction comparing an 8-SEER (Seasonal Energy Efficiency Ratio) system to a 20-SEER system. Actual energy savings vary based on lifestyle, system settings, maintenance, climate and installation.
