Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago, 12/14/2014
Rehabilitation Tax Credit - Qualification?
Yesterday, I read about a Rehabilitation Tax Credit that provides what appears to be a 10% tax credit for restoration and rehabilitation costs do properties built prior to 1936 or a 20% credit foe those that are certified historic structures - such as on some sort o historic registry.
I have a rental home built in 1920. While its not a certified historic building by any means, I was just curious if due to the build date it might still qualify when used as a rental property. Certainly, I can already deduct repair expenses, but assuming I was able to qualify, would I take the expense deduction plus the credit?
Just wanting some more information as to what pre-1936 buildings qualify.