How do I claim the credit for the installation of a qualified wood stove? I am due a 26% credit but Turbotax is only calculating a typical home energy credit.

[KrisD15]

Please enter that under "Energy-Efficient Building Property". 

[SteamTrain · Accepted solution]

@KrisD15 

That's in the wrong place in the current year's forms.   The 26% explanation provided is correct, but any entry on that particular line only provides a 10% credit. 

Either the line needs to ask additional questions as to whether it is a biomass stove/heater (since all the others are 10percenters), or the Biomass question needs to be implemented on the page with the Solar energy credits.  Please check with the software folks about this to see what they are going to do.

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@Yodalogger 

That part has not been implemented in the software yet,........the software hasn't been upgraded yet for the move of Biomass stoves credit to a new area on this year's 2021 forms.....and interview is not changed to deal with it.

If you made any $$ entries in the "Energy-Efficient Building Property" section,  go back thru the home energy credits and take out the entry you made.

THEN:  The final form 5695 is scheduled to be implemented AFTER 3 Feb, so come back after the 4th and go thru the Q&A again.   It "should" then be part of the entries on the Solar energy credits page and not the Energy-Efficiency building property upgrades section...(But I can't really know exactly where they will put it).

[KrisD15]

Thank you, I will pass that along. 

[FrankJWil]

Has this been introduced to the software at this point?  I entered my amount, but it looks like it just gave me 10%.

[Vanessa A]

Where do you see that it is only giving you 10%?  Is it the change in your refund or tax due?  This is a non refundable credit, so you may not see the full 26% showing in your refund.

The Home Energy Credit Summary screen will tell you the actual amount of your credit.  It will also tell you how much you will use now and how much will be carried forward. 

[FrankJWil]

I was able to get it to work correctly.  When entered in the field above in the screen shot, it gave me 10%, but if you skip that screen and move forward, you get another screen with different choices. One of them is the BIOMASS (forget exactly what it is called). When I entered it there, it gave me the correct tax credit of 26%.