Tax Credits????

[somdpellethead]

So from what I've heard from folks and seen from a little internet research is that pellet stoves bought up to Dec 31 2014 are eligible for a federal tax credit of $ 300 I believe. There are also state credits and supposedly my state Maryland offers $700 credit . I purchased in October 2014. Has anyone filed for and/or received these credits?Getting ready to file and would love to see tax credits!!
Any input would be awesome , Thanks

 

[RAVinMetrowest]

Yes,

$300 for the stove - gave the tax guy receipts to support refund.

 

[grathan]

(broken link removed to http://www.irs.gov/uac/Form-5695,-Residential-Energy-Credits)

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. Do not enter more than $300 on line 22a.

It's retroactive back to 2006.

 

[john193]

Yea I took advantage of this back in 2009.

 

[LordmetalZ28]

I hit my lifetime maximum with energy efficiency stuff my tax guy said. I claimed the 18 argon windows installed this year instead of the stove

 

[ScotL]

Wait a minute. Retro-active back to 2006? I installed my boiler in 2008 but there was no program that year. There was in 2007 and 2009 but nothing in 2008. I apparently need to look into this.

 

[Jack Morrissey]

Wait a minute. Retro-active back to 2006? I installed my boiler in 2008 but there was no program that year. There was in 2007 and 2009 but nothing in 2008. I apparently need to look into this.

Is this true??

 

[mr47930]

In MD you are eligible for $700 rebate from the state. I'm not sure what the requirements are because our dealer did all of the paperwork but I know we got a check from the state. Read this website for more details as this is where I checked on the status of our return.
(broken link removed to http://energy.maryland.gov/Residential/woodstoves/)

 

[woodmakesheat]

(broken link removed to http://www.irs.gov/uac/Form-5695,-Residential-Energy-Credits)




It's retroactive back to 2006.

Who Can Take the Credits
You may be able to take the credits if you made energy saving
improvements to your home located in the United States in
2014.

I see no reference to retro-activity.

 

[danimal1968]

I see no reference to retro-activity.

The only backwards-looking thing I see is that the total credit for all tax years after 2005 (i.e., starting with tax year 2006) is $500.

That is a very different thing from saying that the credit is available for any year after 2005.

 

[grathan]

Wait a minute. Retro-active back to 2006? I installed my boiler in 2008 but there was no program that year. There was in 2007 and 2009 but nothing in 2008. I apparently need to look into this.

Sorry, I meant if you took a $1500 credit back in 2009 then you couldn't get anything for a stove purchased last year. This year's credit is only for stoves installed this year.

 

[ScotL]

I looked into the tax credit form anyway. It looked like every year but 2008 was listed. It's funny how things seem to work out like that.

 

[camdids]

I looked into the tax credit form anyway. It looked like every year but 2008 was listed. It's funny how things seem to work out like that.

It wasn't available to us who bought in 2008. I remember it well.

 

[lagger]

my agp was on the acceptable list so yeah I claimed the 300