Duette® Architella® and LiteRise® TrimKit
Federal Tax Credit Opportunity
While you should review the Manufacturer’s Certification Statements available at www.hunterdouglas.com/taxcredit for specific qualifying product details and restrictions, and also consult with your tax advisor to determine other eligibility requirements for claiming this particular Federal Tax Credit, below are answers to some of the more commonly asked questions.
1. What is the Federal Tax Credit for Energy Efficiency?
On 2/17/09, President Obama signed The American Recovery and Reinvestment Act of 2009 – a stimulus bill that includes federal tax credits on selected energy efficient products purchased during 2009 and 2010.
2. Which Hunter Douglas products currently qualify for the Federal Tax Credit?
Two different Hunter Douglas products may qualify for the tax credit as follows:
(1)Certain Duette® Architella® honeycomb shades with qualifying fabrics and lifting systems that are inside mounted over double glazed windows.
(2) The LiteRise® TrimKit, when used on certain Duette® and Applause® honeycomb shades, and mounted over “low-e” double-pane glass windows. The TrimKit does not qualify when used with shades with sheer or semi-sheer fabrics. The tax credit applies to the amount paid for the TrimKit surcharge only.
For specific details and restrictions, refer to the Manufacturer’s Certification Statements for each product at www.hunterdouglas.com/taxcredit
3. How much is the Federal Tax Credit?
Qualifying products are eligible for a tax credit of 30% of the cost, up to $1,500 in total during the 2009 & 2010 tax years $1,500 is the maximum combined total amount that can be claimed for all purchases of qualifying energy efficient products placed in service during this period.
The tax credit for your qualifying Hunter Douglas product is 30% of the purchase price to you for the product only (excluding sales tax, measuring and installation charges), up to $1,500. If you take advantage of any Hunter Douglas or other rebate program and you receive a rebate on your purchase price, you must reduce the amount that you compute the credit on by the rebate received. Ask the dealer to provide an itemized bill to ensure you have the correct information and can claim the proper amount for the tax credit.
4. What is the time frame during which tax credits can be earned on qualifying Hunter Douglas products?
The qualifying Architella shades and LiteRise TrimKit must be purchased and installed between January 1, 2009 and December 31, 2010, for existing homes, not new construction. The home must be considered your principal residence. Consult your tax advisor for further details.
5. Are installation costs for my qualifying Hunter Douglas products covered by the tax credits?
The tax credit applies to the product purchase price only and does not cover the installation/labor costs for measuring or installing your qualifying Architella shade or LiteRise Trim Kit.
6. Is the $1,500 Tax Credit for each product I buy in 2009 and 2010?
Even if you purchase multiple qualifying products you can only get a maximum of $1,500 tax credit over the 2-year qualifying period. Basically you can spend up to $5,000 during this 2 year period on a single product or multiple products, and get 30% or $1,500 (30% of $5,000 = $1,500) back as a tax credit. If you get the entire $1,500 credit in 2009, then you can't get anything additional in 2010. Consult with your tax advisor to determine your eligibility for this tax credit.
7. What tax form do I need to submit for this special Federal Tax Credit?
To claim the tax credit, you will need to complete the applicable IRS forms and submit them with your 2009 or 2010 tax returns, dependent on when your purchase was made. The credit is usually taken on Form 5695. However, the IRS has not yet issued this form for 2009, so you should consult your Tax Advisor as to the correct 2009 form to file or visit the IRS website. Also save your receipts and the Manufacturer's Certification Statement for your records.
8. What is a Manufacturer's Certification Statement?
A Manufacturer's Certification Statement is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit and which includes specific product details and restrictions. The Hunter Douglas Manufacturer's Certification Statements can be accessed at www.hunterdouglas.com/taxcredit
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