Carrier, Trane and American Standard Tax Credit

The 2009-2010 Energy Tax Credit and You

With the passage of President Obama’s Economic Stimulus 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, 2009 and December 31, 2010.

As a leaders in producing energy-efficient home comfort systems, Carrier, Trane and American Standard Heating and Air Conditioning offers many products that are eligible under this new law. Depending on the type of system or product purchased, it is possible to qualify for a tax credit of up to $1,500 on your 2009 or 2010 income tax return. Read on to learn how the government’s new tax credit program works, which American Standard furnaces and air conditioners qualify, and how to apply for a tax credit.

How did the tax credit come about?

On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act (also known as the Economic Stimulus Bill) into law. This legislation combines spending and tax incentives designed to get the American economy moving again by investing in our nation’s roads and energy infrastructure, and by providing incentives for increasing the efficiency and performance of America’s homes and commercial buildings.

Which products are eligible?

1. Furnace to qualify 95% AFUE

2. Boiler to qualify 90% AFUE

3. A/C to qualify 16 SEER + 13 EER

4. Heat Pump same as A/C plus HSPF 9

Some — but not all — of Carrier, Trane, and American Standard Heating and Air Conditioning’s products may qualify for the tax credit. Check back here soon for a listing (by model number) of Carrier and American Standard products that qualify or call us at: 1-888-531-2829

How do I apply for a tax credit?

For qualified improvements, homeowners may be able to claim tax credits equal to 30 percent of the installed costs (up to $1,500). The new tax credits are retroactive to January 1, 2009 and expire on December 31, 2010. The $1,500 limit is for all improvements made during the two-year term, rather than $1,500 each year. 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.

Subject to IRS regulations. Customers should consult a tax professional for advice on tax preparation.

How do I learn more about Carrier, Trane , and American Standard’s energy efficient products?

We are a proud dealer of Carrier, Trane, and American Standard (Ask about the 10yr Parts & Labor Warranty) and are happy to familiarize you with our broad range of energy-efficient products.