Woodstove Tax Credit is Back!

[Dalmatian90]

Didn't see this posted here yet ... hope I missed it or you guys are slipping:

As part of the “fiscal cliff” package that passed Congress on January 1, 2013, the expired 2011 tax credit for energy efficient biomass-burning appliances was reinstated for 2013. The package 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 subject to a $500 “lifetime limit” and applies retroactively to appliances purchased between January 1, 2012 and December 31, 2012.

Happened to go window shopping at Jotul and saw them mention the tax credit and first I thought they needed to fire a web programmer

 

[stihly dan]

It was mentioned in the kuuma furnace thread.

 

[Dalmatian90]

Well that restores my faith in you guys

 

[stihly dan]

It's evan retro active to 2012!!

 

[FLHX Storm]

That's it! Now I have to go out and buy another wood stove! :msp_w00t:

Actually I was planning on getting a new one anyway and then move the one from inside the house out into the garage. Not that I really need one, I just want one with a larger window. :msp_biggrin:

 

[treefrog359]

$$$$$$$

i hope that this is not a joke. i just made my day.

 

[Steve NW WI]

Question for those of you in the know, does the tax credit only count on the purchase of the bare stove, or stove and piping (assuming it's all done at once)? How about accessories (blower fan, OAK, etc.)

I'm looking at $100 credit on the bare stove, close to $150 if I can claim piping and chimney liner, another 20 or so if I can add accessories.

Either way, it's better than a swift kick in the shorts, and I'm happy to see it back. Thought I'd missed my chance for good at the end of '11 when it wasn't renewed then.

 

[Whitespider]

Steve,
I believe the 10% credit only applies to the stove (with Manufacturer's Certificate of Qualification) and "professional" installation cost (parts and labor) "required" for "safe" operation. How they qualify "professional", "required", and "safe" may be tricky... see your tax man.

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Disclaimer - This is not tax advice, nor am I a professional tax preparer.
But if it was me... doing my own taxes (which I do)... I'd claim the pipe, liner and OAK in a heartbeat (hey, I'm a professional... over 40 years of burning wood for home heating in various stoves and furnaces makes me a professional IMHO). Besides... what's the chances of being "called" on it?

 

[Rantz]

I work for the IRS...You're first on my list.

 

[brenndatomu]

I work for the IRS...You're first on my list.

I kinda figured the EPA was watching spidey, but now the IRS too!!! SHEESH!

 

[Whitespider]

I'VE BEEN HACKED, I'VE BEEN HACKED!
Somebody's been posting to AS using my identity!

(That's my story, and I'm stickin' to it)

 

[Whitespider]

I work for the IRS...You're first on my list.

Welcome... classy first post, by-the-way! That's gonna' get you your first "Rep", and first "like".

(Hey guys, when you have no defense... bribery is the only option left open to you!)

 

[autoimage]

cant take it again if you already took it

 

[peterc38]

Well this is good to know as I am hoping to upgrade to larger stove this year.

 

[stihly dan]

It's off the whole package.

 

[Tecook76]

Thanks for posting. Wife was doing taxes when I read it and we were able to claim the Jotul F400 I bought last year. I've read all kinds of posts about how much money you all have SPENT due to this forum...I'm proud to report that I actually saved money! As long as you don't count that MS460 w/a 32" bar that's sitting on my workbench. And a Fiskars, and a...

 

[DIYHome]

i hope that this is not a joke. i just made my day.

Nope, not a joke! Here's some more tax info, I believe all of the stoves on this site are eligible!

Biomass Tax Credit - Information and Forms