If your system qualifies for the Federal Tax Credit your Comfort Consultant would have noted it on your proposal. If you no longer have that information contact the office at Renaud Electric and we can check for you.
For qualified HVAC improvements, homeowners may be able to claim 25C tax credits equal to 10 percent of the installed costs (up to $500 maximum*). The extended tax credit is in effect for all qualifying systems and products installed during the 2012 through 2016 calendar years and expires on December 31, 2016. For qualified geothermal improvements, homeowners may be able to claim HR 1424 tax credits equal to 30% of the total installed costs. Subject to IRS regulations, tax credits apply as a direct reduction of taxes owed. The IRS has directed taxpayers to use Form 5695 to calculate and file for their residential energy credits. Customers should consult with a tax professional to fully understand how the tax credits may apply to you, what you can do to obtain one, and for advice on and/or assistance with tax preparation.
Below are the forms provided by Trane and Mitsubishi to file with your Federal Income Taxes.