Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

IF QUALIFIED ENERGY PROP UNDER SECT 25D IRS CODE. HEARTH PELLET INSERT STOVE QUALIFIES FOR INVESTMENT TAX CREDIT. WHERE DO I ENTER INFO FORM 3468? 5695? WHICH LINE?

BUNNY51
Level 1
DOES QUALIFY FOR "QUALIFIED ENERGY PROPERTY"  INVESTMENT TAX CREDIT????
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

3 Comments 3
qbteachmt
Level 15

Perhaps it helps to understand the differences:

You installed a Pellet Stove to replace a wood stove, in your House.

Or;

You installed a Pellet Stove to generate Heat, using it to turn a turbine to generate electricity, which you sell to the electrical grid.

One is personal residence improvement. One is generating. Also, there can be conservation projects, alternative fuels, etc.

Have you used the IRS resources?

https://www.irs.gov/pub/irs-pdf/i3468.pdf

https://www.irs.gov/instructions/i5695

All of these instructions include, in the first part, Why or Who uses this form.

*******************************
Don't yell at us; we're volunteers
Just-Lisa-Now-
Level 15
Level 15
I had a client several weeks ago that brought a pellet stove, he brought all the paperwork for the tax credit that it qualified for, look for biomass fuel property credit on 5695 and see if your stove meets those qualifications.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
qbteachmt
Level 15

Pellet Stove = Biomass. You might not see "pellet" but you will see "biomass."

*******************************
Don't yell at us; we're volunteers
0 Cheers