Biomass Stove Tax Credit Extended Through December 31, 2020

  • Biomass heating appliances must be at least 75% efficient.
  • Covers qualifying WoodMaster products listed on the Manufacturer’s Certification Statement.

How to qualify for the tax credit:

  1. Purchase and place in service a qualifying WoodMaster outdoor wood furnace now until December 31, 2020.
  2. Save the purchase receipt and the manufacturer’s certification statement for the furnace purchased.
  3. Claim the tax credit associated with your qualifying purchase on your federal filing for the tax year.

Details of the tax credit:

  1. Tax credit is 10% of the amount paid for the qualifying product (installation costs cannot be included) up to a maximum of $300.
  2. The credit applies to the homeowner’s primary residence only.
  3. A tax credit is a dollar-for-dollar reduction subtracted from your tax liability. Therefore, $300 can be subtracted directly from the amount of tax that is owed, or added to a tax refund.

Summary:
This summary information is provided as a convenience and may not be relied upon as a substitute for professional tax advice. WoodMaster, Inc. is not a tax advisor. Taxpayers claiming a tax credit should consult a tax professional with any questions. WoodMaster is not responsible or liable for the taxpayer’s ability to receive tax credits.