Federal Carryforward of the District of Columbia First-Time Homebuyer Credit
Extracted from PDF file 2022-federal-form-8859.pdf, last modified November 2022
Carryforward of the District of Columbia First-Time Homebuyer CreditForm 8859 Department of the Treasury Internal Revenue Service Carryforward of the District of Columbia First-Time Homebuyer Credit OMB No. 1545-0074 2022 Go to www.irs.gov/Form8859 for the latest information. Attach to Form 1040, 1040-SR, or 1040-NR. Attachment Sequence No. 106 Your social security number Name(s) shown on return 1 2 3 4 Credit carryforward from 2021. Enter the amount from line 4 of your 2021 Form 8859 . . . . . . Limitation based on tax liability. Enter the amount from the Tax Liability Limit Worksheet in the instructions below . . . . . . . . . . . . . . . . . . . . . . . . . . . . Current year credit. Enter the smaller of line 1 or line 2 here. Include this amount on Schedule 3 (Form 1040), line 6h. See your tax return instructions . . . . . . . . . . . . . . . . 1 Credit carryforward to 2023. Subtract line 3 from line 1 . 4 General Instructions Purpose of Form Use Form 8859 to claim a carryforward of the District of Columbia first-time homebuyer credit from 2021. ! ▲ CAUTION You may claim only a carryforward of any unused credit (which is shown on your prior year Form 8859, line 4). The original credit amount was the smaller of: • $5,000 ($2,500 if married filing separately), or • The purchase price of the home. The credit was phased out when your modified adjusted gross income (AGI) was greater than $70,000 ($110,000 if married filing jointly). No credit was allowed if your modified AGI was greater than or equal to $90,000 ($130,000 if married filing jointly). Specific Instructions Line 2 Complete the following worksheet to determine the amount to enter on line 2 of Form 8859. Tax Liability Limit Worksheet—Line 2 1. Enter the tax liability before the application of credits from your 2022 income tax return (Form 1040, 1040-SR, or 1040-NR), line 18 . . . 1. . . . . . . . . . . . . . . 2 3 2. Enter the total of the following credit(s)/adjustment(s) if you are taking the credit(s)/adjustment(s) on your 2022 income tax return: • Negative Form 8978 Adjustment, Schedule 3 (Form 1040), line 6l. • Foreign tax credit, Schedule 3 (Form 1040), line 1. • Credit for child and dependent care expenses, Schedule 3 (Form 1040), line 2. • Credit for the Elderly or the Disabled, Schedule R (Form 1040), line 22. • Nonrefundable education credits, Schedule 3 (Form 1040), line 3. • Retirement savings contributions credit, Schedule 3 (Form 1040), line 4. • Energy efficient home improvement credit, Form 5695, line 30.* • Alternative Motor Vehicle Credit, Personal use part, Form 8910, line 15. • Qualified Plug-in Electric Drive Motor Vehicle Credit, Personal use part, Form 8936, line 23. • Child tax credit and credit for other dependents, Form 1040, 1040-SR, or 1040-NR, line 19.** • Mortgage Interest Credit, Form 8396, line 9. • Adoption Credit, Form 8839, line 16. Note. Enter the total of the preceding credit(s)/adjustment(s), only if allowed and taken on your 2022 income tax return. Not all credits/adjustments are available for all years nor for all filers. See the instructions for your 2022 income tax return . . . . . . . 3. Subtract line 2 from line 1. Enter this amount on Form 8859, line 2. If zero or less, enter -0- here and on Form 8859, lines 2 and 3 . . . . . . . . 2. 3. Line 4 * If applicable. You can carry forward any unused credit shown on line 4 until you have used all of it. You cannot carry the unused credit back to prior years. ** Include the amount from Schedule 8812 (Form 1040), Credit Limit Worksheet B, line 14, instead of the amount from Form 1040, 1040-SR, or 1040-NR, line 19, if the instructions for Schedule 8812 (Form 1040) direct you to complete Credit Limit Worksheet B. For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 24779G Form 8859 (2022)
2022 Form 8859
More about the Federal Form 8859 Other Tax Credit TY 2022
We last updated the Carryforward of the District of Columbia First-Time Homebuyer Credit in December 2022, so this is the latest version of Form 8859, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 8859 directly from TaxFormFinder. You can print other Federal tax forms here.
Other Federal Other Forms:
|Form Code||Form Name|
|Form W-4V||Voluntary Withholding Request|
|Form W-4P||Withholding Certificate for Pension or Annuity Payments|
|Form 433-D||Installment Agreement|
|Form 8840||Closer Connection Exception Statement for Aliens|
|Form 8962||Premium Tax Credit|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8859 from the Internal Revenue Service in December 2022.
Form 8859 is a Federal Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
Historical Past-Year Versions of Federal Form 8859
We have a total of eleven past-year versions of Form 8859 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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