Energy Tax Credit Rebate

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.

How to 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.

For more information about this tax credit rebate call us at (702) 727-6333.