Margaret CPA in OH Posted February 10, 2011 Report Share Posted February 10, 2011 Client has documentation for wood stove insert qualifying (per instructions and form from company) for the energy tax credit. However, there isn't a place on Form 5695 for wood stoves, only natural gas, propane or oil furnace. Thats's where I put the cost but not comfortably so. Other ideas? Quote Link to comment Share on other sites More sharing options...
Achmid Posted February 10, 2011 Report Share Posted February 10, 2011 Client has documentation for wood stove insert qualifying (per instructions and form from company) for the energy tax credit. However, there isn't a place on Form 5695 for wood stoves, only natural gas, propane or oil furnace. Thats's where I put the cost but not comfortably so. Other ideas? There is another Form for alternative energy such as solar etc, possible there, I do not know until I have a client with this situation. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 10, 2011 Author Report Share Posted February 10, 2011 Thanks, Achmid, but I think the other form is for motor vehicles. On IRS website for alternative energy credit, a news release states "The cost of certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass all qualify," and references only Form 5695 to take the credits. Quickfinders also references "Biomass Stove" as qualifying and only mentions Form 5695. I just don't see that term on the form. Guess I'll stick with where I have it for now. Quote Link to comment Share on other sites More sharing options...
grmy2h Posted February 10, 2011 Report Share Posted February 10, 2011 Client has documentation for wood stove insert qualifying (per instructions and form from company) for the energy tax credit. However, there isn't a place on Form 5695 for wood stoves, only natural gas, propane or oil furnace. Thats's where I put the cost but not comfortably so. Other ideas? Form 5695 Line 3a 5695 Instruction, page 5, first column, 2nd bullet.... describes stoves. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 10, 2011 Author Report Share Posted February 10, 2011 Thanks, grmy2h, I just read right past that, I guess, thinking that a stove would not be "building property." I need to be more careful and assume less. Thanks again! Quote Link to comment Share on other sites More sharing options...
grmy2h Posted February 10, 2011 Report Share Posted February 10, 2011 Thanks, grmy2h, I just read right past that, I guess, thinking that a stove would not be "building property." I need to be more careful and assume less. Thanks again! You're welcome, my other job is Manager for a Heating and A/C Company, so I had to get VERY familiar with Energy Credits as one of my selling tools. Have a great day!!!! Quote Link to comment Share on other sites More sharing options...
MontanaEA Posted March 6, 2011 Report Share Posted March 6, 2011 I tried to delete my post, but it didn't work - please disregard. Quote Link to comment Share on other sites More sharing options...
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