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gmwalsh
Level 1

Form 5695-Biomass

When will TurboTax 2021 be updated to reflect the 26% credit for wood stoves etc. rather than the previous limit? The form itself has the line for biomass but neither step-by-step nor the worksheet allows data entry. Thanks in advance for an answer.

3 Replies
SteamTrain
Level 15

Form 5695-Biomass

The full presentation for the Biomass credit may not be operational yet.  There was a significant change in the form for where it shows that biomass credit this year, vs last year....so they may not yet have it programmed in for the 2021 change.

 

Right now, the IRS forms availability page isn't updated to show anything at all right at this moment...completely blank (1:37PM eastern) so they may be updating the list, but check it tomorrow to see when the Form 5695 will be fully available:

 

IRS forms availability table for TurboTax individual (personal) tax products (intuit.com)

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
gmwalsh
Level 1

Form 5695-Biomass

Thank you very much SteamTrain.

gmwalsh
Level 1

Form 5695-Biomass

The forms update site says 5695 will be available Feb. 3. Thanks again.

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