Consumer Tax Credit Extended for Biomass Appliances for 2012/2013

[boo boo]

FYI

I thought this ended in 2011 if you bought a stove in 2012/13 you still get the credit

Consumer Tax Credit Extended for Biomass Appliances
As part of the "fiscal cliff" package that passed Congress on January 1, 2013, the expired (broken link removed to http://www.woodstoves-fireplaces.com/blog/consumer-tax-credit-extended-for-biomass-appliances/#) on energy-efficient biomass-burning appliances was reinstated for 2013. The credit, lobbied aggressively by the Pellet Fuels Institute (PFI), provides a 10 percent tax credit, up to $300 in value, on the purchase of a qualifying wood or pellet-burning product. The tax credit is also limited to a $500 "lifetime limit" and applies to 2013 and retroactively to appliances purchased between January 1, 2012 and December 31, 2012. For more information on the current tax credit, please visit http://www.hpba.org/government-affairs/major-projects/25c-tax-credit.
By (broken link removed to http://www.woodstoves-fireplaces.com/blog/authors/1275068431/)
Tags: (broken link removed to http://www.woodstoves-fireplaces.com/blog/woodstovetaxcredit/) (broken link removed to http://www.woodstoves-fireplaces.com/blog/biofuelproducts/)

 

[CladMaster]

Now I need to know if the 25 PVDC is in this that I purchased last year.

UPDATE EDIT: I found these....

(broken link removed to http://www6.homedepot.com/taxcredit/pdf/EnglandsStove.pdf)

http://www.englandsstoveworks.com/taxcredit_2011.html

Question is now, will England's Stove Works update this info / certificate for 2012 / 2013 ?

 

[Speed3]

Awesome! I just found $300!

 

[DOLLARBILL]

Thanks for the info !

 

[john193]

Thanks! I had heard about this but never looked into it to verify its legitimacy until now.

 

[343amc]

I couldn't find it in that page, but am I correct to assume this only applies to a new appliance and not a used one, even if the used one qualifies?

 

[boo boo]

I couldn't find it in that page, but am I correct to assume this only applies to a new appliance and not a used one, even if the used one qualifies?

You are correct only new stoves
More Q and A here (broken link removed to http://www.chimneysweeponline.com/taxcredit.htm)

 

[deercamp]

Does anybody know the effeciency of the harman accentra insert. I could not find it on harmans website. My guess is that it must qualify.

 

[john193]

Does anybody know the effeciency of the harman accentra insert. I could not find it on harmans website. My guess is that it must qualify.

It's 77%, so yea you made the cut. Check out the "brochure" on the harman website.

 

[deercamp]

It's 77%, so yea you made the cut. Check out the "brochure" on the harman website.

Thanks i found it. Just squeaked in there.

 

[MikeNH]

Nice find, thank-you

 

[boo boo]

This is the IRS form to use 5695
Line 21a for the stove
Line 24a if you had it professionally installed using labor cost

http://www.irs.gov/pub/irs-pdf/f5695.pdf

• A stove that uses the burning of biomass fuel to heat your home or heat water for your home that has a thermal efficiency rating of at least 75%. Biomass fuel is any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers.

 

[imacman]

Don't forget that anything associated with the install can also be used toward the credit.....installer fee, pipe, silicone, hearth, spray paint, etc, etc.

 

[mralias]

Don't forget that anything associated with the install can also be used toward the credit.....installer fee, pipe, silicone, hearth, spray paint, etc, etc.

Beer???

 

[imacman]

Beer???

Well, I suppose we could stretch the needed install items a wee bit.

 

[boosted3g]

What if you purchased a used stove but purchased all new items to install, piping etc

 

[boo boo]

What if you purchased a used stove but purchased all new items to install, piping etc

I read a thread that i goggled that said The law specifies that the credit can only be applied to the purchase and installation of new stoves. you should look into that. Piping alone is over $200

 

[The Ds]

Just to clarify, this 'credit' is only applicable if you itemize, correct?

Thanks!

 

[john193]

Since it is a tax credit and not a deduction you can just claim it by filling out the tax credit form.

 

[boo boo]

Just to clarify, this 'credit' is only applicable if you itemize, correct?

Thanks!

HI
No thats not correct. This is a credit not a deduction. This credit will be deducted from the bottom line of what you would owe in taxes. Here is a good article to explain from a few weeks back or you can google the credit and allot will come up for this. You will need form 5695 from the IRS web page.
(broken link removed to http://www.chronicleonline.com/content/tax-credit-gives-break-energy-improvements-homes)

 

[Lousyweather]

Does anybody know the effeciency of the harman accentra insert. I could not find it on harmans website. My guess is that it must qualify.

It do-eth. they even have a certificate for it! (broken link removed to http://www.hearthnhome.com/downloads/communications/TaxStim_Certificate_2013_HAR.pdf)

dont thank me, just send money!

 

[Lousyweather]

Don't forget that anything associated with the install can also be used toward the credit.....installer fee, pipe, silicone, hearth, spray paint, etc, etc.

not fuel

 

[The Ds]

HI
No thats not correct. This is a credit not a deduction. This credit will be deducted from the bottom line of what you would owe in taxes. Here is a good article to explain from a few weeks back or you can google the credit and allot will come up for this. You will need form 5695 from the IRS web page.
(broken link removed to http://www.chronicleonline.com/content/tax-credit-gives-break-energy-improvements-homes)

Thanks Boo Boo! We're fortunate to never owe, so I guess it won't do us any good. But for those who owe, it's a great deal!

 

[glenc0322]

Does anybody know the effeciency of the harman accentra insert. I could not find it on harmans website. My guess is that it must qualify.

they quallify I purchased my stove new in 2011 and received he tax credit

 

[boo boo]

Thanks Boo Boo! We're fortunate to never owe, so I guess it won't do us any good. But for those who owe, it's a great deal!

No No No take the credit and you get more back