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Updated Federal Historic Tax Credit Guidance

For those of you that work with the Historic Tax Credit Program, the IRS has just issued some updated guidance about Qualified Rehabilitation Expenditures that you might find helpful. Of particular note is the addition of guidance on solar, wind, and geothermal systems for buildings. They do not qualify for the tax credit because the IRS views them as 5-year property and therefore not included in the basis of the building. There is also new guidance relating to flood adaptations for historic buildings. 

You can download it here. Or refer to our Federal Historic Tax Credit information page.