So for 2021 tax year, the government is giving a credit of 26% cost with no cap for qualifying pellet stoves. When I go through and try to apply this, turbo tax is telling me it’s a cap of 300. (Old cap) how do I fix this?
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The form for reporting this credit will not be available until January 31,2022. Please wait until then to try to submit the return. TurboTax will automatically update the program to compute an accurate credit. Most products should be available by end of January 2022.
Still....I'd take out whatever you've already entered for the Biomass stove.
The proper place to enter it should show up in a different page (with the Solar tax credits), and the spot you entered it may stay where it is and remain a 10%'er.
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