Page 52 - Large Business IRS Training Guides

BEMTA – Credits (cont’d)

allowed
Applicable section 38 credits are credits

under
section 38 for the taxable year that are
properly allocable to –

• Low income housing credit determined under

section 42(a),

• Renewable electricity
production credit determined
under section 45(a), and

section 46, but
• Investment credit determined under

allocable to the energy
only to the extent properly
credit determined under
section 48

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