Section 45L - Energy Efficient Home Tax Credit Renewed!

On February 9, 2018, the Bipartisan Budget Act was passed, providing a one-year retroactive extension of the New Energy Efficient Home Tax Credit under Code Section 45L through the end of 2017.  The tax credit of $2000 per dwelling unit is available to the “eligible contractor,” which may be the Home Builder or the Multifamily Developer, and applies to multi-family and single-family residential units whether new or substantial rehabilitation.  The tax credit can be claimed retroactively if not claimed on previous tax forms. 
 
See our 45L FAQ Sheet here
 
Eligibility Requirements:
To meet this requirement, the dwelling must be 3 stories above grade or less and certified in accordance with guidance prescribed by the IRS to have a projected level of annual heating and cooling energy consumption that meets the standards for the 50% reduction in energy usage.  A HERS rating is the best way to make this determination.  The dwelling must be sold or rented/leased and be substantially complete before December 31, 2017. 
 
How to Apply:
Green Insight can provide you with the required documentation once the HERS ratings have been completed and registered with RESNET .  Your tax professional will need to fill out IRS form 8909.  Instrutctions available here.
 
If you have any questions, please contact us here
 
https://www.law.cornell.edu/uscode/text/26/45LOn February 9, 2018, the Bipartisan Budget Act was passed, providing a one-year retroactive extension of the New Energy Efficient Home Tax Credit under Code Section 45L  through the end of 2017.  The tax credit of $2000 per dwelling unit is available to the “eligible contractor,” which may be the Home Builder or the Multifamily Developer, and applies to multi-family and single-family residential units whether new or substantial rehabilitation.  The tax credit can be claimed retroactively if not claimed on previous tax forms. 
 
Eligibility Requirements:
To meet this requirement, the dwelling must be 3 stories above grade or less and certified in accordance with guidance prescribed by the IRS to have a projected level of annual heating and cooling energy consumption that meets the standards for the 50% reduction in energy usage.  A HERS rating is the best way to make this determination.  The dwelling must be sold or rented/leased and be substantially complete before December 31, 2017. 
 
How to Apply:
Green Insight can provide you with the required documentation once the HERS ratings have been completed and registered with RESNET .  Your tax professional will need to fill out IRS form 8909.
 
If you have any questions, please contact us here. 
 
https://www.law.cornell.edu/uscode/text/26/45LOn February 9, 2018, the Bipartisan Budget Act was passed, providing a one-year retroactive extension of the New Energy Efficient Home Tax Credit under Code Section 45L  through the end of 2017.  The tax credit of $2000 per dwelling unit is available to the “eligible contractor,” which may be the Home Builder or the Multifamily Developer, and applies to multi-family and single-family residential units whether new or substantial rehabilitation.  The tax credit can be claimed retroactively if not claimed on previous tax forms. 
 
Eligibility Requirements:
To meet this requirement, the dwelling must be 3 stories above grade or less and certified in accordance with guidance prescribed by the IRS to have a projected level of annual heating and cooling energy consumption that meets the standards for the 50% reduction in energy usage.  A HERS rating is the best way to make this determination.  The dwelling must be sold or rented/leased and be substantially complete before December 31, 2017. 
 
How to Apply:
Green Insight can provide you with the required documentation once the HERS ratings have been completed and registered with RESNET .  Your tax professional will need to fill out IRS form 8909.
 
If you have any questions, please contact us here. 
 
https://www.law.cornell.edu/uscode/text/26/45L

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