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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 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
Great company to work with.
We purchased this woodstove to replace an exact duplicate from 1986 that we used for over 15 years. Once we moved the new unit into place, we were stunned how much more efficient the new unit burns. We hear our entire 1800sqft house with the woodstove and 2 fans to move the heat around the house. We are grateful for Royal Fire Pits in aiding our purchase. Shipping was quick. I HIGHLY RECOMMEND Royal Fire Pits to anyone looking for woodstove or anything fire pit related.
Royal Fire Pits was great to work with. The stove arrived in good order after a cross country trip. I was impressed with the quality of the cast iron and how well everything fit together. We are having a "break in" fire tonight and will shift into "catalytic mode" tomorrow. Jordon was a guiding light throughout. Many Thanks!!
Warming Trends AON Powder-Coated Steel Rectangular Fire Table
Excellent.
We have used warming trends multiple times, and we will never use anything else. This was our first time ordering from royal fire pits. I found ordering online troublesome, I then called the 800 number and things went smoothly. I would order from them again if necessary, but really want to become a wholesaler myself. Very happy with everything!!!
Cheers
Recommend the warming trends system. Works like a real wood fire pit, ours is lp gas with ceramic logs.
Jordan was awesome to work with. The Defiant was a fun install in my new home.
Super cool install! Jordan helped with the whole process.
I love the Dauntless Vermont castings wood stove I purchased from Royal Fire Pits!
The stove was delivered to my home, packaged very well & arrived on time.
I would order from Royal Fire Pits again.
I highly recommend them, you won’t be disappointed!
Totally not happy. I left several messages in the last couple days. No one has called me back so far. I believe you sent me the wrong stove. Not what I ordered.
This was our 5th fire pit to build for our customers, we have always used warming trends for our burners. We would never use any thing else.
Can't wait to get it hooked up and use it !
Loving the Vermont Defiant. Jordan was a pleaser to work with!! Helped me forgive the whole projectt.
I had a great experience from initial contact to final delivery. I initiated an online chat with a few questions and was immediately offered the option to continue in the chat or take an in person phone call. I was thrilled to be able to have a dialog and get the advice needed. I got a quote and more availability from the staff for further questions and placed my order for a Vermont Castings Intrepid Intellifire propane stove. The stove was shipped quickly and arrived in perfect condition. Once installed... everything has been working as expected and I'm very happy with the entire purchase experience. Highly recommend!
