Novogradac Historic Tax Credit Handbook

Novogradac Historic Tax Credit Handbook

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The 2014 Novogradac Historic Rehabilitation Handbook contains the most current guidance on rehabilitating historic properties with the historic tax credit. Among its numerous updates, the 2014 edition features extensive coverage of Rev. Proc. 2014-12 and safe harbor guidelines. This essential resource provides important new information on qualified expenditures, recapture, IRC Section 50(d) income, rehabilitation requirements, state historic tax credits, and partnership tax basis and Section 704(b) considerations. In addition to new real-world examples and charts, the original content has been expanded from four to 10 chapters in the 2014 edition. The 2014 Novogradac Historic Rehabilitation Handbook features entire chapters devoted to: ownership structures, including lease pass-throughs, partnership flips and exit strategiespartnership allocation and the economic substance doctrinetax-exempt entities, both as owners and tenantsdeveloper fees, including qualifying services, reasonable fees and deferred developer feescombining HTCs with other tax credits, including NMTCs, LIHTCs and renewable energy tax credits.Therefore, if within the fiveyear recapture period the HTC property subsequently becomes non-depreciable, a€” for example, it is ... Partially damaged property would not trigger recapture if the owner makes the necessary repairs and places theanbsp;...

Title:Novogradac Historic Tax Credit Handbook
Author:Jon Edward Krabbenschmidt, JD CPA, Thomas Boccia, CPA, Robert S. Thesman, CPA
Publisher:Novogradac & Company LLP - 2014-09-15


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