How are people taking the 30% credit for a biomass fuel stove? It's classified under "energy-efficient building property" but then calculates only a 10% credit!

tyrrell_shawn-ho · ‎January 6, 2023

SteamTrain · ‎January 6, 2023

NO...do NOT enter it under "Energy Efficient Building Property"

A couple years ago it went in there, but no longer.

+++++++++++++++

Go back in and take those $$ out of that line...then continue a few more pages in and enter it on one labelled

"Enter Any Additional Energy-Efficient Improvements"

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

SteamTrain · ‎January 6, 2023

@tyrrell_shawn-ho

But wait....a "stove" ??? Don't think so.

From the draft instructions for 2022 form 5695

"Qualified biomass fuel property costs. Qualified biomass fuel property costs are costs for property which uses the burning of biomass fuel to heat a dwelling unit located in the United States and used as a residence by the taxpayer, or to heat water for use in such a dwelling unit, and has a thermal efficiency rating of at least 75% (measured by the higher heating value of the fuel). Biomass fuel means any plant derived fuel available on a renewable or recurring basis."

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

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How are people taking the 30% credit for a biomass fuel stove? It's classified under "energy-efficient building property" but then calculates only a 10% credit!