Discussion:Home Builders and Commercial Buildings Energy Credits
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Discussion Forum Index --> Advanced Tax Questions --> Home Builders and Commercial Buildings Energy Credits
Discussion Forum Index --> Tax Questions --> Home Builders and Commercial Buildings Energy Credits
| 27 October 2007 | |
| > A question for you - Home Builders and Commercial Buildings
> I have a developer that is putting in a 3-story 100 unit complex with > that will qualify based on the energy efficient standards under > RESNET, however, I have several concerns in regards to the $2,000 tax credit per dwelling unit for > homebuilders (potential $200K credit). The main concern being that the property must > transfer from the builder to the owner as a residence - in this case, I have > an apartment complex in which all of the tenants will be leasing and not owning > as a residence. However on the other credit, the $1.80 per square foot credit > for a commercial building, the project only qualifies if the unit is over three > stories in height, which this is not. Is therefore, no energy credit for this building? | |
| 30 October 2007 | |
| To my understanding, you are correct. An apartment complex is not a residence. No residential credit applies. | |
| 10 April 2008 | |
| Do Not Overlook IRC Sec 179D - Commercial Energy Efficiency Property (Lighting/HVAC/Insulation) Some Apartments qualify - See Notice 2006-52.
You must have a 3rd Party - Independent Engineering Study - www.EngineeredTaxServices.Com | |
