This is the form necessary for the biomass $300 tax credit
The days of cheap oil have come to an end. In 20 years we’ve seen the rock bottom price of $1 / gal to now almost $4 / gal. Even in an election year we didn’t see the price of oil drop for very long. Along with the price at the pump going up, heating bills are starting to push to astronomical levels. Who would think that every 5 years we’d see a dollar jump in #2 heating oil costs. What about in the next 10 years?
Pellets are NOT all created equal. So how do you know that you’re really getting the most bang for your buck? Until now there really has been no report or guide on what you were getting. Woodpellets4me.com has an online guide to help you choose your
#2 Fuel Oil:
January 2, 2013
FEDERAL TAX CREDIT FOR WOOD STOVE REINSTATED AND RETROACTIVE
In addition to the purchase price, consumers can include the cost of professional installation which is important to the proper and safe operation of biomass stoves.
The biomass stove provision provides for a 10% tax credit up to $300 for stoves bought in 2013 and it is retroactive, so that all eligible stoves purchased in 2012 can also get the credit. This credit was allowed to expire at the end of 2011 and H.R. 8 extends it through December 31, 2013.
The bill language that makes it retroactive did so by just extending the credit that existed in 2011, through December 31, 2013: