The biomass fuel pellet stove would have a maximum credit of $300. It is reported on Form 5695, Residential Energy Credits. The overall lifetime credit limit is $500 for all Residential Energy Property Credits claimed since 2018. It must be installed in your principal residence.
To make sure you are in the right place, be sure to enter your details by following these steps per TurboTax:
- search for this exact phrase including the comma and spaces: 5695, residential energy credit
- Select the Jump to link in your search results.
- At the bottom of the Energy-Saving Home Improvements screen, answer Yes, then select Continue.
- To delete the 5695, answer No, select Continue, and then answer Yes on the following screen to confirm the deletion.
For more details, see: Can I claim energy-efficient appliances or energy-saving home improvements?
