I’m using turbo tax to complete my 2009 taxes. I just entered the costs of my wood stove purchase under the “home energy credits”. According to turbo tax...I’m not getting a return for my $4000 stove purchase..WTF!?
Is this a rebate (i.e. 30% of purchase costs are returned to the buyer – a check I can take to the bank) or is this a credit (i.e. you owe the IRS $xxx.xx – (minus) 30% of your energy efficient purchase). And if the 30% exceeds what you owe…you get nothing??
Because if this is a "credit" my wood stove dealer is going to get an ear full from me tomorrow. I was told it’s a rebate when I purchased the stove, not a credit…maybe I’m not filling out the correct forms?
Is this a rebate (i.e. 30% of purchase costs are returned to the buyer – a check I can take to the bank) or is this a credit (i.e. you owe the IRS $xxx.xx – (minus) 30% of your energy efficient purchase). And if the 30% exceeds what you owe…you get nothing??
Because if this is a "credit" my wood stove dealer is going to get an ear full from me tomorrow. I was told it’s a rebate when I purchased the stove, not a credit…maybe I’m not filling out the correct forms?