2017 WAS THE LAST YEAR!!! - The 45L Tax Credit Has Expired but was renewed
for homes built during 2017. A ONE Year Extension
On February 9, 2018 President Trump signed nto law the Bipartisan Budget Act of 2018. This law provides for a one-year extension of the The "Energy Efficient Home Credit" known in the IRS Tax Code as a 45L and 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 2017 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.