Get Form 8703 (rev

Filling out the Form 8703 (Rev) accurately is essential for the annual certification of a residential rental project. This guide will provide clear, step-by-step instructions to assist you in completing the form effectively.

Follow the steps to accurately fill out Form 8703 (Rev)

1. Press the ‘Get Form’ button to access the form and open it for editing.
2. Complete Part I by entering the operator’s and owner’s taxpayer identification numbers, along with their addresses. Ensure to use the actual street address of the project without any P.O. boxes.
3. Check the appropriate box for the test that has been elected for the project (20-50 test, 40-60 test, etc.).
4. Provide the date that marks the beginning of the qualified project period.
5. Indicate whether a low-income housing credit allocation was issued by marking 'Yes' or 'No' and, if applicable, provide the building identification number.
6. In Part II, enter the total number of residential rental units in the project, and the number of units occupied by low-income residents.
7. Calculate the total number of low-income units by adding the number of occupied units and continuing residents whose income is treated as low-income.
8. Confirm compliance with the income limits by checking the required conditions for your chosen test.
9. Complete the required parts regarding low-income units vacated, and any relevant data about bond issuance in Part III.
10. Finally, review your entries for accuracy, then save the changes, download the form, print it, or share it as needed.

Ensure your compliance by filing Form 8703 online accurately and timely.