Is there formaldehyde in beer?

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This question was recently submitted by a reader, and to tell you the truth I did not know much about the formaldehyde in beer issue.  My initial reaction was "of course there is not formaldehyde in beer", but as I dug deeper into the research I began to grow concerned.

Now when I hear "formaldehyde" I think of preserving corpses… not exactly getting me in the mood for a cold one.  So to start off I figured a definition of formaldehyde was in order:

What is a Steam Beer (or California Common)?

History of Steam Beer

The steam beer, or california common, is an American original and was first produced in California during the gold rush (late 19th Century).  The style of beer is very much tied to the west coast and in particular San Francisco.

At its height, this style of beer was brewed by as many as 27 different breweries in California.  Today, "steam beer" is a trademarked term, and can only be brewed under that name by Anchor Steam Brewing Co. in San Francisco, CA.  Other brewers now use the name "california common" for this style.