Hello
Anyone taking advantage of this on their taxes for this April?
From
http://www.stovekeeper.com/faq.html
See
Tax Credit 25C - Federal Tax Credit Eligible on Biomass heating appliance of up to $300 for 2013 as part of fiscal cliff
UPDATE: The current tax credit is a dollar-for-dollar credit on qualifying residential energy property expenditures, up to $300. HPBA initially reported the tax credit incorrectly as 10% of qualifying residential energy property expenditures, up to $300
$300 Biomass Stove Tax Credit Reinstated for 2012 - 2013
A federal tax credit on 75 percent efficient biomass heating appliances, which expired on December 31, 2011, was reinstated by the “fiscal cliff” legislation, the American Taxpayer Relief Act of 2012 (H.R. 8), signed by President Obama on January 2, 2013. The bill includes a “tax extender” for Internal Revenue Service Section 25C which provides a tax credit for, among many other things, qualifying biomass burning stoves. The extender provides a dollar-for-dollar tax credit of up to $300 on a qualifying biomass heating appliance purchased between January 1, 2012 and December 31, 2013. The credit claimable on the purchase or installation of qualifying biomass units is limited to a “lifetime limit” of $500 (and may be impacted by the purchase or installation of other products that qualify of a 25C credit). The credit for tax year 2012 is claimed on IRS Form 5695. HPBA recommends all individuals consult with their tax advisor for details on the applicability of the tax credit.
Anyone taking advantage of this on their taxes for this April?
From
http://www.stovekeeper.com/faq.htmlSee
Tax Credit 25C - Federal Tax Credit Eligible on Biomass heating appliance of up to $300 for 2013 as part of fiscal cliff
UPDATE: The current tax credit is a dollar-for-dollar credit on qualifying residential energy property expenditures, up to $300. HPBA initially reported the tax credit incorrectly as 10% of qualifying residential energy property expenditures, up to $300
$300 Biomass Stove Tax Credit Reinstated for 2012 - 2013
A federal tax credit on 75 percent efficient biomass heating appliances, which expired on December 31, 2011, was reinstated by the “fiscal cliff” legislation, the American Taxpayer Relief Act of 2012 (H.R. 8), signed by President Obama on January 2, 2013. The bill includes a “tax extender” for Internal Revenue Service Section 25C which provides a tax credit for, among many other things, qualifying biomass burning stoves. The extender provides a dollar-for-dollar tax credit of up to $300 on a qualifying biomass heating appliance purchased between January 1, 2012 and December 31, 2013. The credit claimable on the purchase or installation of qualifying biomass units is limited to a “lifetime limit” of $500 (and may be impacted by the purchase or installation of other products that qualify of a 25C credit). The credit for tax year 2012 is claimed on IRS Form 5695. HPBA recommends all individuals consult with their tax advisor for details on the applicability of the tax credit.
