Personal Energy Credit/T&F Deduction?

[zeros]

Do these items exist for 2008?

[taxea]

Personal Energy Credit/T&F Deduction?

I answered your post in the wrong area. No for 2008 comes back in 2009...unless they change the law again. State credits may still apply for 2008.taxea

[solomon]

There is no non-business energy property credit for 2008 but will be in 2009. Tuition/Fees was extended for 2008 and 2009.

[ecb34691]

Didn't Section 106 of the "rescue bailout bill" put it back in for 2008 to 2016?

[taxmom34]

energy credits

according to my software energy credits are available for 2008

[Bees Knees]

Your software is not tax law.

The bailout bill extended the nonbusiness energy property credit for 2009, but left it out for 2008. Other energy credits were extended for 2008, such as the residential energy efficient property credit, the energy efficient commercial building property deduction, and the energy efficient home credit.

If you are confused, take a number and stand in line. You are not alone.

[erchess]

Why worry now

We won't prepare our first returns before two months and three days are gone and even if one could determine the correct answer as of today the answer could be changed. To quote Quoheleth it "is vanity and striving after wind" to worry about tax law changes until Congress recesses in December. Take a good update course online or in person between 12/26 and 1/10 and keep an eye on your news sources of choice and all will be well.

[Bees Knees]

Good point erchess. At the rate Congress is going, there should be at least three major tax bills passed between now and January 15th, with three or four more by the end of April. I'm sure one of them will catch the nonbusiness energy credit error and include it for 2008.

[David1980]

At this point most things that are present on 2008 are on the draft forms available here: http://www.irs.gov/taxpros/lists/0,,id=97782,00.html

If you look at Form 5695's Draft 2008 form it's only 1 page and is missing most of what we have come to think of as the energy credits. It still shows the solar heat/power but doesn't have anything about insulation or windows, etc...

So the software company that said it's still there might have meant the form is still there and the solar stuff is still there.