Last Updated : January 14, 2009
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8900

Form 8908

Energy Efficient Home Credit

PURPOSE OF THE FORM :

Use Form 8908 to claim a credit for each Qualified energy efficient home sold during the tax year. This credit is a part of general business credit. The credit ($2000 or $1000) is based on the energy saving requirements of the home.

Eligible contractors may claim the credit for new energy efficient homes that are substantialy completed after August 8, 2005 and acquired by an individual from that contractor during th tax year for use as a residence.

No portion of the unused credit may be carried forward to any tax year ending before 2006.If you cannot use all of the credit this year because of the tax liability limit, it can be carried forward upto 20 years.

ELIGIBLE CONTRACTOR:
An eligible contractor is :

  • The person who contructed the Qualified new energy efficient home or
  • For manufactured homes, the person who manufactured the home.

QUALIFIED NEW ENERGY EFFICIENT HOME:
A Qualified new energy efficient home is a dwelling unit located in the United States, whose contruction is substantially completed after August 8, 2005 and sold after 2005 but before 2009. The home is also required to be certified and meet certain energy saving requirements. Construction includes substantial reconstruction and rehabilitation.

CERTIFICATION:
An eligible contractor must obtaina certification that the dwelling unit meets the requirements of section 45L from an eligible certifier before claiming section 45L credit. The certification will be treated as satisfying the requirements of section 45L if all the contruction has been performed in a manner consistent with the design specifications provided to the eligible certifier and the certification contains all the information required by section 3 of notice 2006-27, or , for manufactured homes , section 3 or section 4 of notice 2006-28.


Line 1a:
Enter the total number of Qualified energy efficient home meeting the % standard sold during the tax year.

For each home substantially completed after August 8,2005 and sold during the tax year after December 31, 2005 that meets the 50% energy efficient standard, the allowable credit is $2000. Reduce the expenses incurred for either the rehabilitation or energy components of the investment tax credit may not again be considered in determining the energy efficient home credit.

Line 1b:
The program enters the allowable credit by multiplying the number of homes entered on line 1 by $2000.

Line 2a:
Enter the total number of Qualified energy efficient manufactured homes meeting the 30% standard sold during the tax year.

For each home substantially completed after August 8, 2005 and sold during the tax year after December 31, 2005 that meets the 30% energyefficient standard, the allowable credit is $1000. Reduce the expenses incurred in the construction of each new home by the amount of the credit. Expenses taken into account for either the rehabilitation or energy components of the investment tax credit may not again be considered in determining the energy efficient home credit.

Line 2b:
The program enters the allowable credit by multiplying the number of homes entered on line 1 by $1000.

Line 3:
The amount on this line comes from schedule K-1P/S and schedule K-1ET line named Energy efficient home credit.

Line 4:
The program adds line 1b , line 2b and line 3 and enters the result on this line and this line is reported on FORM 3800.

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