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Wood Stove Tax Credit
What Is The Biomass Tax Credit?
In December 2022, the IRS released updated guidelines for the 25(C) tax credit. This credit applies to installations from January 1, 2023, through December 31,2032, taxpayers who install qualifying wood and pellet stoves will receive a 30% tax credit that is capped at $2,000 annually, based on the full cost of the stove, and installation.
While we’re not tax experts, here’s what we’ve gathered so far. Be sure to consult with a professional when preparing your taxes!
The Hearth, Patio and Barbecue Association (HPBA) has highlighted the IRS guidance for the 25(C) tax credit.
Biomass Tax Credit Highlights
- You can deduct 30% of your costs, including labor, up to $2,000 per year.
- For example, if you spend $3,000 on a wood stove and $2,000 on labor, you can deduct $1,500 on your taxes (30%).
- There’s no lifetime cap, allowing you to claim up to $2,000 annually until 2032.
- This tax credit is applied by the year the stove was installed, not the year it was purchased.
How to Claim Your Tax Credit
To claim your tax credit, you will need the following documents:
- Stove Purchase Receipt: This will be used to prove your purchase.
- Manufacturer’s Tax Credit Certificate: This will be used to prove your unit qualifies for the tax credit.
When you file your taxes, you will include Form 5695. Here is our understanding of how to fill out the Form 5695.
Stoves Eligible For The 2024 Biomass Tax Credit
Vermont Castings
Vermont Castings Defiant Wood Burning Stove
Vermont Castings Encore Wood Burning Stove
Vermont Castings Dauntless Flexburn Wood Burning Stove
Vermont Castings Intrepid Flexburn Wood Burning Stove
Osburn
Osburn 27-Inch 1700 Wood Burning Fireplace Insert
Osburn 28-Inch 2000 Wood Burning Fireplace Insert
Osburn 30-Inch 3500 Wood Burning Fireplace Insert
Osburn 36-Inch Matrix Wood Burning Fireplace Insert
Osburn 36-Inch Matrix 1900 Wood Burning Fireplace Insert
Osburn 28.5-Inch Inspire 2000-I Wood Burning Fireplace Insert
Osburn 20-Inch 950 Wood Burning Stove
Osburn 25-Inch 1700 Wood Burning Stove
Osburn 27-Inch 2000 Wood Burning Stove with Blower
Osburn 29-Inch 3500 Wood Burning Stove with Pedestal Ash Drawer and Blower
Osburn 27-Inch Matrix Wood Burning Stove with Blower
Osburn 28-Inch Inspire 2000 Wood Burning StoveLet customers speak for us
Jordan was very helpful on making sure everything would fit correctly concerning making the connection to stove pipe and took up a lot of time answering all my questions.
Highly recommend purchasing from Royal Fire Pits. Great customer service and fast shipping.
Spoke with Jordan great customer service, super nice guy 5 star rating across the board.
I had some issues with my fire pit burner (not royal fire pits fault) and they worked hard to close out on any issues I had until I was completely satisfied. Bottom line is you should buy with confidence here. They have earned my trust.
The purchase of our new Defiant Stove was surprisingly easy; careful attention to my questions, easy credit card transaction and perfect delivery of an extremely well palletized 800 lbs product at a very competitive price!
I personally was interested in the Vermont aspen c3 wood stove and after several hours of research found royal fire pits had the best prices to include free delivery on the aspen. Found they also offered several good discount codes. Great site that’s easy to navigate with easy access to good add ons for the stove.
I haven't got it fired up yet, but i like every thing so far...
I really enjoyed working with Jordan at Royal Fire Pits because the he and all of the experts are very knowledgeable and professional.
I am enjoying my new fireplace and surround. Royal Firepits was a dream to work with. Pricing, communication and quick delivery were all fantastic
You made the buying of our stove and accessories so easy ! The delivery was flawless and your prices can't be beat!! Thank you! Max Maxfield
Bought this burner for a newly built fire pit. It is made of brass pipe and fittings and seems very well built. It has a beautiful flame and plenty of heat. A bit spendy but should last a very long time.
Here is a better picture of the flames. Highly recommend.
I ordered a wood stove from Jordan .. He was excellent to deal with and very much helpful and took the time to explain all my questions .. I am excited to get my stove and get it going !!