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Deductions & credits
Do you owe at least $2,000 in income taxes? The credit can only be used to reduce your income taxes in the year in which you purchase the stove. If you don't owe at least $2,000 then the only thing that the credit can do is reduce your income tax bill to zero dollars.
Look at your form 1040 on line 16. Whatever the amount on that line is that is the maximum that your credit can be (up to $2,000). If the amount on line 16 is less than $2,000 then that is all of the credit that you are entitled to.
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8 hours ago