Instructions for IRS Form 8908 Energy Efficient Home Credit

This document contains official instructions for IRS Form 8908 , Energy Efficient Home Credit - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.

FAQ

Q: What is IRS Form 8908?
A: IRS Form 8908 is a tax form used to claim the Energy Efficient Home Credit.

Q: What is the Energy Efficient Home Credit?
A: The Energy Efficient Home Credit is a tax credit available to individuals and businesses that have built or renovated an energy-efficient home.

Q: Who is eligible to claim the Energy Efficient Home Credit?
A: Individuals and businesses that have constructed or renovated a residential home that meets certain energy efficiency standards are eligible to claim the credit.

Q: What are the energy efficiency standards for claiming the credit?
A: The home must meet the energy-saving standards set by the International Energy Conservation Code (IECC) for the year in which the home was constructed or renovated.

Q: How much is the Energy Efficient Home Credit?
A: The credit is equal to 45% of the eligible construction costs, up to a maximum credit amount of $2,000 per dwelling unit.

Q: How do I claim the Energy Efficient Home Credit?
A: To claim the credit, you must file IRS Form 8908 along with your individual or business tax return.

Q: Are there any limitations or restrictions on the credit?
A: Yes, the credit is subject to certain limitations and restrictions, including a limitation on the number of eligible dwelling units and a phase-out for high-income taxpayers.