Energy Tax Credit 2011 for Biomass Stoves

Energy tax credit 2011 for biomass stoves applies to an existing home that is your principal residence. A principal residence is a home that you own and live in for most of the time. Temporary absences are allowed. Your principal home can be a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home. You cannot receive the energy tax credit for a biomass stove if it is placed in a rental home or new construction.

If you have purchased a biomass stove and would like to claim your energy tax credit, I suggest you use online tax software such as, TurboTax Online. Claiming the energy tax credits 2011 for biomass stoves can be tricky and it has to be done correctly. The tax software at TurboTax Online will take your information and put your energy tax credit amounts onto the correct tax forms for you.

What is a biomass stove? To put the definition is simplest terms, it means the stove burns fuel such as pellets, wood, corn, or other sustainable, renewable alternatives. Pellets are made up of compressed sawdust that could have ended up in a landfill somewhere.

The energy tax credit for a biomass stove is 10% of cost up to $500 or a specific amount from $50 – $300. The tax credit for biomass stoves will expire on December 31, 2011. The biomass stove must have a 75% fuel efficiency rating to qualify for the energy tax credit.

Biomass Stove Energy Tax Credit Requirements:

• Name and Address of Manufacturer
• Identification of the class of qualified energy property (Biomass-Burning Stove) in which the property is included
• Make, model number and any other way to identify  the stove
• A statement proving that the product is a qualified energy property eligible for energy tax credit
• Certification statement from the manufacturer with a declaration, signed by a person currently authorized to bind the manufacturer in these matters.

Use TurboTax Online today and let them prepare your energy tax credit forms correctly for you.