Tax credit

[tjcole50]

Need to know this ASAP given the tax credit ends this year I think... But if I go out and buy a new epa stove right now but don't install will I still get 300$ tax credit? As long as it's purchased before end of year and what all paperwork is needed?

 

[Sledhead00]

Thats how it worked back when in '10 when I bought my Jotul...They werent sure they could get it in before dec 31 but I paid and had a recepit saying it was bought before yrs end and I got the 1500 credit... Good thing you posted about it, as I need to print the paper for the 300 credit on my new osburn...

 

[mark cline]

I just bought a Hearthstone Mansfield . I'll need the receipt , dated on or before Dec. 31, 2013. , the certificate stating that it is 75% or better efficient ( I downloaded it off the Hearthstone website) and file all with my taxes. The price of my stove alone , would give me the $300 credit , any installation costs can be added into the final cost , but the max credit for a stove is $300.

 

[Boiler74]

Take this for what it's worth, but my tax advisor said it's based on when it was placed in service. I bought in 12 but installed in 13. So I'll be taking the credit in 13.

 

[BrotherBart]

If you are installing it yourself, the IRS ain't going house to house to see if it was installed four months before you filed the tax return. And the average two years it takes before you get audited for anything. And three hundred bucks ain't even on the radar screen except for a random compliance audit.

There is right, wrong and real.

 

[lostDuck]

Does anyone know if this credit will be extended into 2014?

 

[SteveKG]

So far I haven't heard of any extensions past the 31st.

What I read on the Woodstock site a few months ago was that the stove needed to be installed and operational by the 31st to count. On the other hand, how the heck will anyone know whether it is installed unless you tell. If you are installing yourself, at least. If you have it "professionally" installed, there will be a paper trail, with dates.

 

[Boiler74]

So far I haven't heard of any extensions past the 31st.

What I read on the Woodstock site a few months ago was that the stove needed to be installed and operational by the 31st to count. On the other hand, how the heck will anyone know whether it is installed unless you tell. If you are installing yourself, at least. If you have it "professionally" installed, there will be a paper trail, with dates.

Just make sure it's delivered by the 31st! Ha!

 

[mark cline]

http://woodheatstoves.com/wood-stove-tax-credit-ezp-29.html
This might answer some of your questions.