What is the energy efficient home credit and how can I enter it in Drake Tax?
This credit is available to eligible contractors for each qualified energy efficient home sold or leased to another person who uses that home as their residence during the tax year. The credit is based on the energy saving requirements of the home and is part of the general business credit reported on Form 3800. Screen 8908 is available on the second Credits tab for generating a current year credit. If the requirements are met, Form 8908 generates in view mode and the allowable credit is figured on Form 3800. If any amount of credit is disallowed, Wks 3800 will detail the credit allowed, as well as any amount that will carryover to next year.
Energy Efficient Home Credit amounts carried forward from a prior year may be entered on the GBC screen by selecting 8908 - Form 8908, Energy Efficient Home Credit in the Description of Credit drop list.
See the Instructions for Form 8908 for details. The credit may not be allowed in all years due to law changes.
On a scale of 1-5, please rate the helpfulness of this article
Optionally provide private feedback to help us improve this article...
Thank you for your feedback!