THIS IS THE LAST YEAR!!! - The 45L Tax Credit Expires 12/31/2016 and has NOT been renewed
"The Protecting Americans from Tax Hikes Act of 2015" (PATH) was passed by Congress and signed into law by President Obama December 18, 2015.
The "Energy Efficient Home Credit" known in the IRS Tax Code as a 45L credit provides a tax credit for each qualifying new energy efficient home built by an eligible contractor. 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 2016 version of Form 8908 has not yet been published by the IRS. 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.