This Portfolio is available with a subscription to Bloomberg Tax, a comprehensive research solution including over 500 Tax Management Portfolios™, practice tools, primary sources and timely news.
Tax Management Portfolio 586 T.M., Rehabilitation Tax Credit, provides an in-depth analysis of the §47 tax credit (Credit) for the rehabilitation of certified historic structures and certain other buildings originally placed in service before 1936. A 20% credit is available for qualified rehabilitation expenditures incurred in connection with the rehabilitation of a certified historic structure, and a 10% credit may be taken for qualified rehabilitation expenditures incurred with respect to rehabilitation of certain other buildings placed in service before 1936. To qualify for the Credit, a qualified rehabilitated building must have been substantially rehabilitated and initially placed in service before the beginning of the rehabilitation. In addition, buildings qualifying for the 10% credit must meet certain external and internal wall requirements. A certified historic structure must either be listed in the National Register of Historic Places (National Register) or be located in a registered historic district.
This Portfolio discusses in detail the definitions and technical requirements to qualify for and claim the Credit. It discusses the pass-through election that permits a lessee to claim the Credit, and required basis reductions (or fictional income) for property for which a Credit is claimed.
In addition, it discusses limitations on the use of the Credit and recapture. Finally, the Portfolio discusses typical transaction structures and use of the Credit in conjunction with other tax benefits, as well as analyzes the important case of Historic Boardwalk, LLC v. Commissioner, which has dramatically changed the way in which Credit transactions are structured.
This Portfolio may be cited as Mount, 586 T.M., Rehabilitation Tax Credit.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)