In 2006 client purchased corn burner stove and believes he is entitled to an energy tax credit due to the appliance being powered by a renewable energy source. I suspect the credit is available on form 5695. Any suggestions or advice on the issue? If indeed deductable on 5695, what section and what line number? Thanks.
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Only in Iowa! (sorry, Cornhuskers)
Seriously, I know of no stove that qualifies whatever it burns. There is a good summary of the new energy tax credits at http://www.energystar.gov/index.cfm?..._credits#chart .Originally posted by Hoosier View Post -
Maybe a hay burner qualifies?
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only in iowa
just to clarify things Mo.(i would put a smiley face here if i knew how to do it).
the poster was from indiana - they are hoosiers
iowa - hawkeyes
nebraska - cornhuskers
missouri - i don't know that oneComment
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Propane Tax Credit
I had a client in last week that insisted the "gal at the COOP" told her to save her receipts for having her propane tank filled because there is a tax credit for "alternative fuels" that her accountant had been taking for years.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de TocquevilleComment
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Hmmmm
So the IRS doesn't encourage using our abundant supply of corn for fuel. But it does encourage buying really heavy trucks that guzzle the fuel which comes from other countries.Comment
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