Federal Tax Credits on Qualifying Residential Indoor Comfort Systemsby HVAC Distributors March 21, 2016
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has been extended and revised to provide federal tax credits on qualifying, high-efficiency residential HVAC products and systems through December 31, 2016.
Many Amana systems qualify for these rebates. Goodman has provided tax credit information and a tax certificate for each tax credit product type to the amana-hac web site.
The maximum amount an eligible homeowner may receive in federal tax credits for purchasing and installing qualifying products, whether those purchases are in the form of upgraded insulation, windows, HVAC equipment or other eligible improvements, is now 10% of the cost of the improvement, including installation costs, up to $500 (there are per-item limits).
The $500 tax credit amount is reduced by the total amount of residential energy property credits a homeowner has claimed for purchases between 2006 and 2016. If a residential homeowner has already claimed single-family home tax credits of $500 or more from improvements made prior to 2016, he or she cannot claim any new tax credits during 2016.
All furnaces and boilers, whether fueled by natural gas, propane or fuel oil, must have an AFUE rating of 95% or higher to be eligible.
Products or units must be installed between January 1, 2009, and December 31, 2016, to be eligible for tax credits.
Installation in an existing home (principal residence only). Not available on new construction or rentals. Complete details of the programs are available here.