Wood stove purchase – Tax credit or Rebate??

[chad101]

I’m using turbo tax to complete my 2009 taxes. I just entered the costs of my wood stove purchase under the “home energy credits”. According to turbo tax...I’m not getting a return for my $4000 stove purchase..WTF!?

Is this a rebate (i.e. 30% of purchase costs are returned to the buyer – a check I can take to the bank) or is this a credit (i.e. you owe the IRS $xxx.xx – (minus) 30% of your energy efficient purchase). And if the 30% exceeds what you owe…you get nothing??

Because if this is a "credit" my wood stove dealer is going to get an ear full from me tomorrow. I was told it’s a rebate when I purchased the stove, not a credit…maybe I’m not filling out the correct forms?

 

[begreen]

It is definitely a credit not a rebate.
https://www.hearth.com/econtent/index.php/forums/viewannounce/38796_2/

 

[rdust]

Credit, you should get something back unless you do not pay any tax. We received the full 30% back on our 4000 worth of stove, pipe, chimney and hearth pad.

 

[hct4all]

Not to steal this thread, but if I read correctly this is only on primary residence so my camp purchase does not count correct?

 

[begreen]

Correct. No credit if this is for a secondary residence.

 

[chad101]

Not to steal this thread, but if I read correctly this is only on primary residence so my camp purchase does not count correct?

You're fine

I figured it out. My fiance is a waitress so she doesn't pay allot of taxes. I on the other hand payed through the nose for income taxes. I put the credit on my account and got the full 30% back.