The software states that up to 30% of purchase and installation cost of a biomass stove is eligible for a tax credit, but only 26% was through 12/31/22. Problem?

[owenmcm]

The BTU Act that was in effect from 2021 through 2022 allowed an uncapped credit of 26 percent of purchase and installation cost. Beginning in 2023, credit eligibility is 30 percent capped at $2000 annually. Is this currently causing me to claim a 30 percent credit if I enter the full amount I paid?

[owenmcm]

It turns out this does appear to be the advice on 5695 actually. Not sure why, but ok?

[dtrested]

I'm sorry if I'm still confused about this. We had a pellet stove installed, cost about $10,000, in 2023. I was set to claim the capped $2000 credit, but when I enter it into the form, they are crediting me over $3200. Is this correct? Because it should be capped at $2000 from what I have seen.

[DoninGA]

@dtrested 

The Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.

The Form 5695 is scheduled to be available in TurboTax on 01/31/2024 (subject to change).

Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...