Organizer

[Elsyie]

energy efficient improvements

I noticed the organizer contains an item on energy efficient improvements to home...I heard in two seminars that this was not renewed in 2008 but will be effective in 2009. Does anyone know if that is the case? I haven't seen anything on it anywhere else.

[Jesse]

I noticed the organizer contains an item on energy efficient improvements to home...I heard in two seminars that this was not renewed in 2008 but will be effective in 2009. Does anyone know if that is the case? I haven't seen anything on it anywhere else.

There is more than one Energy Credit.

The Residential Energy Efficient Property Credit is in effect for 2008.

The Nonbusiness Energy Property Credit was not renewed in 2008 but will be effective in 2009 with changes.

[Bees Knees]

You still need to ask about the nonbusiness energy property credit stuff. If they say they did, hold off filing the return. Sometime during tax season, Congress will extend that one for 2008 as well.

[Nashville]

Form 5695

Line 53 (Form 1040) still allows for a credit from Form 5695, Residential Energy Credits. However, the form 5695 exists only for year 2007.

There is a Form 5695 in draft status as of 12/16/08 for the tax year 2008. All of the elements exist as if they are expecting the credit to be revived any day. It is not a business credit, as it bears use for only 1040 and 1040NR.

[erchess]

Word Format

Add my voice to those asking for the organizer in Word Format. I am sure we would all be willing to sign whatever legal releases were necessary to insulate TTB and the authors individually from liability arising out of our use of the changed product.