Air Conditioning, Heating and Plumbing - Advice, Discussion and Tips from ARS®/Rescue Rooter®.
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I purchased a new furnace in 2009. How do I know if the furnace qualifies for the tax credit on my 2009 tax return?
Did you replace the AC also? The tax credit depends on the SEER (Seasonal Energy Efficiency Ratio) rating and the efficiency of the equipment you purchased. The higher the SEER, the more energy efficient the furnace is. Tax credits directly reduce the amount of tax you have to pay. So if you receive a $100 tax credit, you pay $100 less in income tax, dollar for dollar savings, which is huge. Call the company from whom you purchased the equipment, ask them what model they installed for you, and they can advise you as to tax credits. Not all HVAC equipment qualifies. The maximum tax credit is 30% of the cost of qualifying equipment, including installation costs, up to $1,500. The tax credit is only valid for taxpayers that own their home and that home must be used for their principal residence.
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