
Federal Tax Credits up to $1500
---For a list of qualifying tankless water heaters Click Here----
The American Recovery and Reinvestment Act of 2009 signed on February 17, 2009, by President Obama has made significant changes to homeowner tax credits for specified energy-efficient home improvements including qualifying, residential water heaters. Some of the more significant changes include the extension of the tax credit through 2010 and the increase in the total available tax credit from 10% to 30%.
Homeowners who purchase and install a qualifying Rinnai tankless water heater between Jan. 1, 2009 and Dec. 31, 2010 will now be eligible for a tax credit equal to 30% of the full purchase and installation price up to a maximum of $1500.
Effective Dates
January 1, 2009 through December 31, 2010.
Tax Credit Amount
30% of the full purchase and installation price up to a maximum of $1500
Guidelines
The Rinnai tankless water heater must be “placed in service” between January 1, 2009 and December 31, 2010. The IRS defines "placed in service" as when the product is ready and available for use.
The Rinnai tankless water heater must be installed in or on the taxpayer’s principal residence in the United States.
The tax credit is ONLY available for existing homes.
The maximum amount that a taxpayer may claim for all qualifying energy efficient home improvements including the purchase and installation of a Rinnai tankless water heater is $1,500 over the lifetime of the credit (2009 & 2010).
Rinnai tankless water heaters installed in 2008 are not eligible for the tax credit.
How to Claim Your Tax Credit for 2009
Purchase and install a qualifying Rinnai tankless water between Jan. 1, 2009 - Dec. 31, 2009.
Save your proof of purchase.
For more information on homeowner tax credits, please visit Click Here