What is the Historic Tax Credit? [Video]

You can get a tax credit for up to 20% of the costs of rehabbing an income-producing historic building.

To qualify, the building must be a certified historic structure.

This means it’s either listed on the National Register of Historic Places or…

Listed as a contributing building in a National Register or state or local historic district certified by the Secretary of the Interior.

The National Park Service ultimately determines whether the building qualifies as a certified historic structure when you apply.

The rehab costs must exceed the greater of (a) the adjusted basis of the property or (b) $5,000.

Qualified rehab costs include costs of permanently affixed items like doors, walls, and wiring.

Landscaping doesn’t count.

Costs of acquiring or enlarging the building don’t count.

You get the tax credit over a 5-year period starting with the year the rehabilitated building was placed into service.

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