Tax Credit Eligible Stoves
The federal tax credit for biomass (wood or pellet) stoves and inserts has been extended until the end of 2016. These stoves are eligible for a $300 tax credit, as they have a thermal efficiency rating of 75% or higher. A model purchased from January 1, 2015 (retroactive) until December 31, 2016, qualifies for this $300 credit. When filing your tax return, simply include your sales receipt for the eligible appliance and be sure to fill out IRS Form 5695 with the necessary information.