Qualifying for the Tax Credit
Question 1 of 2:
Is the building held for investment (income-producing) or used in a trade or business?
Yes No
Explanation:
Only buildings held for investment or used in a trade or business qualify for either the 10 percent or 20 percent tax credit. The RTC is not available for use on owner-occupied residential properties. If the building contains both investment and non-investment square footage, only the investment portion qualifies.
If you are unsure if your building is held for investment or used in your trade or business, contact your accountant for assistance.