Page 385 - Small Business IRS Training Guides

Summary

Main Points

In order to claim a rehabilitation tax credit under the law prior law, a taxpayer must be the owner of a qualified property on

January 1, 2018, and meet substantial rehabilitation test with a date beginning no later than June 20, 2018.

A non-historic Pre-1936 building not qualifying under the transition rules will no longer to be eligible for the credit. The

Pre-TCJA rules continue to apply to a certified historic structure. However, the 20 percent credit will be claimed ratably
over 5 years starting with the year the property is placed in service.

73233-102 13402-9 Tax Cuts and Jobs Act