Biomass Fuel Credit

Discussion in 'Tax' started by KSB, May 25, 2009.

  1. KSB

    KSB Guest

    My oil company just told me that I can get a tax credit by using biomass
    fuel in my existing home heating oil burner. Is this correct.

    KSB, May 25, 2009
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  2. KSB

    Mark Bole Guest

    The most likely thing is a credit for federal excise tax paid on the
    fuel. Most of the other credits seem related to the purchase of the
    heating equipment itself (not fuel), production of biomass fuels, or use
    in a trade or business (not residential).

    There does not appear to be one single IRS pub or table which lays this
    all out, but I'd love to learn otherwise. Compounding the murkiness is
    that certain credits have come and gone and come back again over the
    last few years with each major new tax law, it seems.

    And of course your state may have its own credits. Did your oil company
    at least specify whether or not it was a federal credit?

    -Mark Bole
    Mark Bole, May 25, 2009
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  3. KSB

    Dick Adams Guest

    I don't know, but I have an oil furnace. So what is biomass
    fuel and why would I want to burn it?

    Dick Adams, May 25, 2009
  4. KSB

    Bill Brown Guest

    Bill Brown, May 26, 2009
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