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Connecticut Historic Rehabilitation Tax Credit (C.G.S. 10416c) Part 4 Application: Request for Certification of Completed Rehabilitation1. building dataa. Building Name Address: Street Town Zip:
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How to fill out historic rehabilitation tax credit

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How to fill out historic rehabilitation tax credit

01
Determine if the property qualifies for the historic rehabilitation tax credit by meeting the criteria including being a certified historic structure, placed in service before 1936, and designated by the Secretary of the Interior as being historically significant.
02
Fill out IRS Form 3468 to claim the tax credit and provide information about the property, the cost of rehabilitation work, and other required details.
03
Submit the completed Form 3468 along with any required supporting documentation to the IRS for review and approval.
04
Keep detailed records of all expenses related to the rehabilitation work to support your tax credit claim.

Who needs historic rehabilitation tax credit?

01
Property owners who own certified historic structures and are looking to rehabilitate them to preserve their historical significance.
02
Developers who are undertaking projects to rehabilitate historic properties for residential or commercial use.
03
Investors looking to offset the costs of rehabilitating historic properties through tax credits.

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The historic rehabilitation tax credit is a federal tax incentive designed to encourage the rehabilitation of historic buildings by providing a tax credit for a percentage of the qualified rehabilitation expenses incurred during restoration.
Taxpayers who own or have an interest in a certified historic structure and have incurred qualified rehabilitation expenditures must file for the historic rehabilitation tax credit.
To fill out the historic rehabilitation tax credit, taxpayers must complete IRS Form 3468 (Investment Credit) and provide additional documentation, including a description of the property, the nature of the rehabilitation work, and proof of expenses.
The purpose of the historic rehabilitation tax credit is to stimulate the preservation and restoration of historic properties, promote economic development, and revitalize communities by incentivizing private investment in historic structures.
Taxpayers must report information such as property location, detailed expenditures, the nature of the rehabilitation, and compliance with the Secretary of the Interior's Standards for Rehabilitation.
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