Earning the Tax Credit

How to earn the 10 percent Rehabilitation Tax Credit

There is no formal review process for earning the 10 percent tax credit -- once you have concluded that you qualify for the credit, simply calculate the total amount of qualified rehabilitation expenditures incurred and multiply this number by 10 percent to determine the total tax credit earned.

The credits are considered earned on the date that the building is placed-in-service.

It is very important to determine prior to the time that the building is placed-in-service whether the owner will be able to use and redeem the credits against his/her federal tax liability.

Contact your tax attorney or accountant before the building is placed-in-service if you are unsure whether you will be able to use any or all of the credit.

Explore Other Options for more information.

>> Continue to learn how you redeem the 10 percent tax credit