Tax Credit Deadline is Dec. 31 - 17 more stoves added!

Good news for homeowners planning energy-saving home improvements! You could get a federal tax credit (Energy Efficient Home Improvement Tax Credit).

A tax credit is a reduction of your federal income tax. If you had taxes withheld, you may get a refund. If you owe taxes, it may reduce your tax liability.

The best news? A wood or pellet stove from WoodstovePro qualifies as an energy-saving improvement.

How Much is the Tax Credit Worth?

You can claim 30% of your cost, up to $2,000, if you buy an eligible wood-burning stove or pellet stove. The 30% includes the price of the stove and the cost to install it. You must have the unit installed by the Dec. 31st deadline to receive the credit.

To claim the tax credit, be sure the stove you are buying has the EPA certification. It must also have an HHV (Higher Heating Value) efficiency rating of 75% or more. This is important because a stove can have EPA Certification, and be very efficient, but not be at this 75% level.

What is EPA Certification?

The goal of EPA certification is to limit the amount of particulate matter (PM) a wood stove releases. The 2020 standards say a new wood burning unit should not release more than 2.5 grams per hour of particles. Learn more about wood stove efficiency at the EPA website.

An independent, accredited laboratory tests the stoves to be sure a wood or pellet stove is following the guidelines. You can verify a stove's certification status by checking its permanent EPA label or searching the EPA's database.

EPA-certified stoves produce less pollution, are more efficient, and are safer to use.

Keep Good Records

Be sure to have these records ready when tax time comes around. You will need these whether you do your own taxes or have a professional tax preparer handle them.

• Your receipt. This should have the date of purchase, the stove name and cost, and how much you paid for installation (if you had someone else install it).
• A copy of the Certification Statement. It confirms that the stove qualifies for the credit and is at least 75% efficient (HHV). This statement comes from the manufacturer.
• Form 5695 to file with your tax return to claim the credit. 

Wood Stoves

We have compiled a list of all the wood stoves on woodstovepro.com that qualify for the IRS tax credit. You can click directly from this document to the stove(s) you want to know more about.

Wood Stoves that qualify for the 30% (up to $2000) Tax Credit.

This list has been updated with 17 qualifying Drolet stoves as of Sept. 25. 

Pellet Stoves

We have done the same thing for our pellet stoves as well.

Pellet Stoves that qualify for the 30% (up to $2000) Tax Credit

Just a Reminder

WoodstovePro, and its employees or contractors, are not tax professionals. This article is to let you know about a great opportunity. Do not consider it tax advice, which should come from a professional.

Questions?

If you don't see the stove you want, or a brand you're looking for (like Vermont Castings), contact us at info@woodstovepro.com or call 888-418-0005. We can help you learn more about the tax credit, wood stoves, fireplaces, or other hearth products.