Page 35 - Tax Reforms - Businesses
P. 35

Rehabilitation Tax Credit (3/3)













                                                                                              The legislation requires
                                                                                              taxpayers take the 20-percent

                                                                                              credit ratably over five years

                                                                                              instead of in the year they
                                                                                              placed the building into

                                                                                              service and


                                           RTC                                                • eliminates the 10 percent
                                                                                                  rehabilitation credit for the
                                                                                                  pre-1936 buildings.

                                                                                              • This provision is effective

                                                                                                  for amounts that taxpayers
                                                                                                  pay or incur for qualified

                                                                                                  expenditures after

                                                                                                  December 31, 2017.








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