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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 accumulated and highlighted more consumer information for your reference.
CLICK HERE FOR MORE INFORMATION ON THE BIOMASS STOVE 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.
Paper Filing: The credit can be claimed on IRS Form 5695 on line 29c (Residential energy property Expenditures-- Energy-efficient building property).
Electronic Filing: If you are using tax filing software, the credit generally will be found under the "Credits" section of the Federal portion (Home Ownership – Residential Energy Credit).
If you made a qualifying purchase and installation in a previous tax year and want to claim the credit, you need to file an amended return using IRS Form 1040-X.
FAQ'S
What paperwork should a consumer retain for their personal tax records?
You should retain (1) the sales receipt and (2) the manufacturer’s certification statement. The sales receipt demonstrates that you purchased the qualifying stove during the effective period of the credit. The retailer from whom you purchased the qualifying stove should also provide you with a manufacturer's certification statement indicating that the product is qualified for the tax credit.
This certification statement should contain: the name and address of the manufacturer; the class of qualified energy property; the make, model number and any other appropriate identifiers of the stove; a statement that the product is eligible; and a declaration, signed by a person currently authorized to bind the manufacturer in these matters (e.g., I attest that I have examined this certification statement, and to the best of my knowledge and belief, the facts are true, correct, and complete.).
Are installation costs included in this tax credit?
Yes. Installation costs are included. So that your stove burns as efficiently, cleanly, and safely as possible, be sure to have it installed by a professional.
Are biomass stoves installed in new or vacation homes covered by this tax credit?
Yes. While previous biomass tax credits allowed only installations in primary residences to be claimed, the IRA permits biomass heaters installed in the US at a residence of the taxpayer (not necessarily the taxpayer’s principal residence) to receive the credit.
Stoves Eligible For The 2023-2032 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 StoveEnerzone
Enerzone 20-Inch Solution 1.4 Wood Burning Stove
Enerzone 28-Inch Solution 1.7 Wood Burning Stove
Enerzone 27-Inch Solution 2.3 Wood Burning Stove
Enerzone 28-Inch Solution 3.5 Wood Burning Stove with Blower
Enerzone 26-Inch Harmony 2.3 Wood Burning Stove
Enerzone 27-Inch Solution 1.7-I Wood Burning Insert
Enerzone 29-Inch Solution 2.3-I Wood Burning Insert
Enerzone 36-Inch Destination 1.9 Wood Burning Insert
Let customers speak for us
My experience with Royal Fire Pits could not have been better. The Vermont Castings brand speaks for itself, however, you can purchase this product from many dealers.The attention to detail, ease of communication, customer satisfaction, and getting the job done are qualities that make Royal Fire Pits the go to dealership for Vermont Castings and related products. Highly recommend!!
Love the stove. Beautiful ! Your customer service was the best !
Thank you so much for all your help in making our decision….thank Rachel too !
Very helpful.
Royal Fire Pits broadly, and Jordan specifically were such a total and complete DELIGHT to work with!!!! After MANY months of getting a runaround and grotesque price gouging from local fireplace services, I found Royal Fire Pits online and gave them a call just to order a stove. I am a novice at this, but Jordan was such an expert and had such knowledge and patience, and steered me to the right stove for my space, right away. He was even happy to work with my contractors timeline and hold off delivery until the contractor was in place for my job. Because ordering the stove was so problem free, I decided to call back for the considerable piping and chimney material I would need for the install. Once again, Jordan was supremely organized and knowledgeable and gave me a price almost HALF of what local places were charging. The delivery was problem free, and any questions I had, Jordan was available almost instantly. All in all, ordering the stove and all of the piping from Royal Fire Pits saved me close to $8,000 and the customer service is on par with what you expect from an American Express or Disney experience. I have renovated the whole house and Royal Fire Pits was the only experience that was friendly, professional, efficient and reasonably priced. I am SO glad I found this company, and will 100% use them for my next wood stove project. Thanks so much!!!
Jordan provided great customer service and went the extra mile to ensure a successful delivery. 2 thumbs way up!
THE BURNER IS WONDERFUL AND EASY TO INSTALL. JORDAN HAS BEEN WONDERFUL WORKING WITH THROUGH ENTIRE PROCESS
This beautiful Bordeaux Encore wood burning stove was put in place yesterday with the help of a few friends. Really appreciate your help and efficiency in streamlining this order. Royal Fire Pits is fortunate to have Jordan as a representative. Your knowledge and competence about the Vermont Castings product was evident and appreciated. Thank you again for your assistance and followup. We Love it.
Excellent service, very helpful, thoughtful and friendly representative. Very good price and the delivery was even quicker than the offer from my local dealership. I am recommending this dealer without any objections.
Very natural looking flames, especially with the ceramic log set. Shipping was quick and overall service was great.
Royal Fire Pits was great to work with. Product delivered without a handle though. I'm sure Jordan will be sending me one shortly.
Quality equipment
I bought a Vermont Castings Intrepid wood burning stove and dealt with Jordan the entire time. He was a huge help throughout the process also helping me order all the piping I would need to install. Loved the no tax and free shipping as well!
Seem solid and will work well
When making a purchase this large on the internet and being new to a new company I was definitely a little concerned about the product arriving. However sooner than expected and packaged like a professional company I quickly learned Royal fire pits was no joke. Checking out was simple and communication about it shipping was never a question. Construction is still under way on the fire pit so it has not been fired up yet, but if I need any additional products I will certainly not think twice about contacting Royal Fire Pits. Thanks again for a great experience.
Jordan was excellent to work with. He answered all my questions and always got back to me if he had to research a question! The no sales pitch, no pressure is absolutely true and if we were located closer to him, I would thank him personally. Jordan, THANK YOU AGAIN!
