Get 2008 8703 Irs Form

The 2008 8703 IRS form is essential for operators of residential rental projects to certify compliance with requirements under section 142(d) of the Internal Revenue Code. In this guide, you will learn how to efficiently fill out this form online and ensure all necessary information is accurately provided.

Follow the steps to complete the form online.

1. Press the ‘Get Form’ button to access the form and open it in your preferred online editor.
2. In Part I, provide general information about the residential rental project. Enter the address, name, and contact details for both the owner and operator. Do not include a P.O. box.
3. Indicate the tax identification numbers for both the owner and operator of the project.
4. Select the test elected for your project by checking one of the boxes: 20-50 test, 40-60 test, 25-60 test (NYC only), 20-60 test (GO Zone only), or 40-70 test (GO Zone only).
5. State the date on which the qualified project period began in the specified format (month/day/year).
6. Answer the question about whether a low-income housing credit allocation was issued for this project by marking ‘Yes’ or ‘No’. If ‘Yes’, provide the building identification number assigned by the housing credit agency.
7. In Part II, fill out the annual determinations by entering the total number of rental units in the project, those occupied by individuals whose incomes do not exceed the applicable income limit, and the number of units occupied by continuing residents.
8. Calculate the total number of low-income units and the percentage from the previous calculations in Part II.
9. If applicable, complete details regarding the deep-rent skewed project election.
10. In Part III, certify under penalties of perjury by checking whether the project continues to meet the requirements or not, and provide the signature, date, and your printed name and title.
11. Once all the details are accurately filled out, save changes, download, print, or share the completed form as necessary.

Start filling out your 2008 8703 IRS form online today to ensure compliance!