How to generate Form 8912 in Lacerte

This article will assist you with generating Form 8912, Credit to Holders of Tax Credit Bonds, in the Individual module of Lacerte.

Refer to the IRS Instructions for Form 8912 for more information.

To generate Form 8912 in the program:

1. Go to Screen 38.3, Credit to Holders of Tax Credit Bonds.
2. If the credit is reported on Form 1097-BTC, complete the Reported on Form 1097-BTC subsection:
   • Issuer name
   • Issuer EIN
   • Unique identifier
   • Amount reported
   • Bond type (Ctrl+T)
   • 1 = Qualified zone academy bond issued before October 4, 2008 (if applicable)
3. If the credit is not reported on Form 1097-BTC, complete the Not Reported on Form 1097-BTC subsection:
   • Bond Issuer's Name, City or town, State, and EIN
   • Date bond issued
   • Date bond matures
   • Date bond disposed of (if applicable)
   • Bond Type (Ctrl+T)
   • Bond Information (Ctrl+E)

To enter Carryforward of prior year credits:

1. Go to Screen 38.3, Credit to Holders of Tax Credit Bonds.
2. In the left hand navigation pane, click the blue link for Miscellaneous Info.
3. Input the carryforward amount in the respective fields for Taxpayer or Spouse columns.

Prior to 2016, Form 8912 was not a supported form in the Individual Module. The form would need to be manually prepared, and the amount entered in the Individual module.

To enter the amount from Form 8912 into a 2016 (or prior) return:

1. Go to Screen 38.2, EIC, Energy Residential, Other Credits.
2. Scroll to the Other Credits section.
3. Enter the amount in the field Holders of tax credit bonds credit (8912).
4. Enter the credit from the following types of bonds from Form 8912.
   • Clean renewable energy bond (CREB)
   • New clean renewable energy bond (NCREB)
   • Qualified energy conservation bond (QECB)
   • Qualified zone academy bond (QZAB)
   • Qualified school construction bond (QSCB)
   • Build America bond (BAB)
5. After limitations are applied, the allowed amount carries to the credit section of Form 1040. Manually prepare and attach Form 8912 to the tax return.