8912

Credit to Holders of Tax Credit Bonds

Agency
IRS
Revision
Rev. December 2024
Fillable fields
218
Pages
3
Official source
IRS form page
Checked
October 21, 2026
Fill 8912 online
Page 1 of form 8912

Form 8912: Credit to Holders of Tax Credit Bonds

Form 8912, Credit to Holders of Tax Credit Bonds, is attached to a tax return to claim the credit for six kinds of bonds: clean renewable energy bonds (CREBs), new clean renewable energy bonds (NCREBs), qualified energy conservation bonds (QECBs), qualified zone academy bonds (QZABs), qualified school construction bonds (QSCBs) and build America bonds (BABs).

The instructions say the credit compensates the holder for lending money to the issuer and functions as interest paid on the bond. They also say the credit is not available for bonds issued after December 31, 2017, and the form warns not to enter any bond credits for bonds issued after 2017.

The instructions say Form 8912 is no longer updated annually, only when necessary. This page has the Rev. December 2024 edition. You can fill it out free in your browser on this page and download the result without an account.

What's on Form 8912

Part I: Current Year Credit

Lines 1 to 6: credits from Part III and Part IV, carryforward of credits for qualified tax credit bonds and build America bonds, the total credit, and for estates and trusts the amount allocated to beneficiaries.

Part II: Allowable Credit

Lines 7 to 12: regular tax before credits and alternative minimum tax for individuals, corporations or estates and trusts, other credits on lines 10a to 10d, net income tax and the credit allowed for the current year.

Part III: credits on Form 1097-BTC

Line 13 lists each issuer of Form 1097-BTC, its identifying number, the unique identifier and the amount reported. Line 14 totals column (c).

Part IV: bonds not on Form 1097-BTC

Lines 15 to 17 take the issuer's name, location and EIN, the dates issued and maturing, and any date disposed of. Line 18 figures the credit for each bond from CUSIP number, principal, credit rate and percentage.

Lines 19 and 20: bond credit

Line 19 adds column (f). For an NCREB or QECB, line 20 is line 19 multiplied by 70% (0.70); for a CREB, QZAB, QSCB or BAB it is the line 19 amount. Line 20 goes to line 2.

How to fill out Form 8912

  1. 1

    Start with Parts III and IV

    The instructions say to complete Parts III and IV before Parts I and II, and that separate entries are required for each bond with a different issuance date or a different credit rate.

  2. 2

    Part III, line 13

    From each Form 1097-BTC, enter the issuer's federal identification number, the unique identifier in box 2b and the amount in box 1. Credits from a pass-through entity on Form 1097-BTC go here, not on line 18.

  3. 3

    Part IV, line 18

    Enter the CUSIP number, outstanding principal (interest payable for a BAB), credit rate and percentage. The instructions say the BAB credit rate is 35%, and column (e) is generally 25% for each credit allowance date held, or 100% for a BAB or a QZAB issued before October 4, 2008.

  4. 4

    Part I, lines 1 to 6

    Carry line 14 to line 1 and line 20 to line 2. Line 3 is a carryforward for qualified tax credit bonds or BABs; the instructions say credits for a CREB, or a QZAB issued before October 4, 2008, can't be carried forward.

  5. 5

    Part II, lines 7 to 12

    Enter regular tax and alternative minimum tax from the lines the form names for the return type, subtract the credits on lines 10a to 10d, and enter on line 12 the smallest of line 4 (or line 6), line 11 or the limit in the instructions.

  6. 6

    Report the credit

    The form says to report line 12 on Schedule 3 (Form 1040), line 6k; Form 1120, Schedule J, line 5e; Form 1041, Schedule G, line 2d; or the applicable line of your return.

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Where it goes, carryovers and interest income

Attach to your return

The form says "Attach to your tax return." Its attachment sequence number is 154.

Unused credit

The instructions say holders of a qualified tax credit bond or a BAB may carry an unused credit to the next tax year, while holders of a CREB, or a QZAB issued before October 4, 2008, can deduct the unused credit instead.

Interest income

The instructions say the current year credit is treated as taxable interest income paid on the credit allowance date, or for BABs the interest payment date.

Bonds issued after 2017

The form and instructions say not to enter any bond credits for bonds issued after December 31, 2017.

No double counting

When a pass-through entity reports the same credit on Form 1097-BTC and on a Schedule K-1, the instructions say to include only the Form 1097-BTC amount, on Part III, line 13.

Related forms

Who files Form 8912?

  • Bondholders on a credit allowance date

    The instructions list the credit allowance dates as March 15, June 15, September 15 and December 15, plus the last day on which the qualified tax credit bond is outstanding.

  • Holders of build America bonds

    A taxpayer holding a BAB on an interest payment date, meaning any date on which the bondholder of record is entitled to a payment of interest under the bond.

  • Holders of QZABs issued before October 4, 2008

    The instructions say the holder is an eligible taxpayer: a bank, insurance company or other corporation actively engaged in the business of lending money. A shareholder of an S corporation that is an eligible taxpayer may also claim it.

  • Partners, shareholders and beneficiaries

    Credits can reach a taxpayer from a partnership, S corporation, estate, trust, regulated investment company or real estate investment trust, on Form 1097-BTC or another statement.

  • Partnerships, S corporations, estates and trusts

    The form says partnerships and S corporations report the line 4 total on Schedule K, and estates and trusts allocate CREB credit to beneficiaries on line 5. In both cases the form says they also issue Form(s) 1097-BTC.

The instructions say a taxpayer holding a CREB or qualified tax credit bond on one or more credit allowance dates claims the credit by filing Form 8912 for each tax year in which it holds the bond on a credit allowance date.

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Questions about Form 8912

Which bonds does Form 8912 cover?

The IRS lists CREBs, NCREBs, QECBs, QZABs, QSCBs and build America bonds (BABs).

Is there a credit for bonds issued after 2017?

The instructions say the credit is not available for bonds issued after December 31, 2017, and the form says not to enter bond credits for bonds issued after 2017.

What if no Form 1097-BTC was received?

The form says to complete Part IV for a bond credit not reported on Form 1097-BTC. The instructions say to use one Part IV for each bond held directly or through a nominee, or for each credit passed through without a Form 1097-BTC.

Is the credit treated as interest?

The instructions say the current year credit is deemed a payment of qualified stated interest and is treated as taxable interest income paid on the credit allowance date, or for BABs the interest payment date.

What are the credit allowance dates?

The instructions list March 15, June 15, September 15 and December 15, plus the last day on which the qualified tax credit bond is outstanding.

Is Form 8912 updated every year?

No. The instructions say Form 8912 and its instructions will no longer be updated annually and will only be updated when necessary.