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sbwater
New Member

Why can't I put in for a tax credit for installing a wood stove in the online version of turbotax but it can be entered in the cd disk version?

The instructions I was given do not work.  Line 22a of IRS form 5695 has the following - A stove that uses the burning of biomass fuel to heat your home or heat water for your home that has a thermal efficiency rating of at least 75%. Biomass fuel is any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers 

This not in the online version of Turbotax that I have - the questionnaire style of  form 5695 when I search for it has a bunch of other options but not the wood stove option of line 22a of form 5695.

How do I get this credit using online Turbotax?

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LindaA
Expert Alumni

Why can't I put in for a tax credit for installing a wood stove in the online version of turbotax but it can be entered in the cd disk version?

You can enter a qualifying wood stove in TurboTax Online:

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type 5695.
  • In the results box, highlight 5695, residential energy credit, then click GO.
  • Follow the onscreen instructions to complete this section. You'll enter the cost of the wood stove under How much did you pay for energy-saving improvements? as an Energy-Efficient Building Property. (Click the screenshot below for reference.)

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3 Replies
sbwater
New Member

Why can't I put in for a tax credit for installing a wood stove in the online version of turbotax but it can be entered in the cd disk version?

I followed the directions given in the answer but they don't work for my online version of turbotax.  Please help, I could use the credit and turbotax should allow me to get all that I am entitled to.  What else am I missing out on?
LindaA
Expert Alumni

Why can't I put in for a tax credit for installing a wood stove in the online version of turbotax but it can be entered in the cd disk version?

The maximum credit for the wood stove is $300. The maximum Nonbusiness Energy Property Credit for all items (doors, windows, furnaces, etc.), including your wood stove, for all years is $500. Did you perhaps take the credit in a previous year? Also, this isn't a refundable credit, so if your tax liability is already 0 this credit can't make it any lower.
LindaA
Expert Alumni

Why can't I put in for a tax credit for installing a wood stove in the online version of turbotax but it can be entered in the cd disk version?

You can enter a qualifying wood stove in TurboTax Online:

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type 5695.
  • In the results box, highlight 5695, residential energy credit, then click GO.
  • Follow the onscreen instructions to complete this section. You'll enter the cost of the wood stove under How much did you pay for energy-saving improvements? as an Energy-Efficient Building Property. (Click the screenshot below for reference.)
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