The 45L Energy Efficient New Home Tax Credit Has been renewed for 2018, 2019 and 2020
On December 20, 2019 President Trump signed into law legislation extending the energy efficient new home tax credit. This law provides for a three year extension of the The "Energy Efficient New Home Credit" known in the IRS Tax Code as 45L. This credit will cover homes built in 2020 and retroactively cover homes built in 2018 and 2019. The tax credit typically amounts to $2,000 per home and $1000 per manufactured home and is claimed using IRS FORM 8908.
Qualifying properties include apartments, condominiums, townhouses and single family homes three stories or less. Eligible construction also includes substantial reconstruction and rehabilitation of existing homes. The 45L tax credit may also be claimed retroactively if not claimed on previous tax returns.
*** The 2018 version of Form 8908 was never published by the IRS and the 2019 version will be published later in January. Please check back for updates.***
Qualifying dwellings must meet the following criteria:
***The IRS defines a dwelling as a "single unit providing complete independent living facilities for one or more persons, including permanent provisions for living, sleeping, eating, cooking and sanitation."***
Types of projects that qualify for the Tax Credit:
Procedure to claim the 45L Tax Credit
Contact us so we we may provide you additional information with directions on how to submit your projects for review. The initial review is free, without obligation.