Non-Historic Commerical Buildings Built Before 1936
Administered by IRS; does not involve review by IHPA.
-Go to IRS website to download Form 3468 and instructions: www.irs.gov.
-Select the “Forms and Publications” link on the left navigation bar.
-Contact the IRS: 800.829.1040
Receive a credit of 10% of the amount spent to rehab a non-historic building built before 1936.
Only non-National Register buildings are eligible.
Income-producing residential and owner-occupied housing are not eligible.
Must be a substantial rehabilitation.
Eligible work includes masonry repair, exterior parinting, interior remodeling and mechanical work.
Ineligible work includes building addition, appliances, furniture and fixtures.
Must pass a physical retention test.
- -Spend more than $5,000 or the adjusted basis during a 24-month period.
No IHPA, NPS or other formal design-review process.
No application fee.
Applicant submits form to the IRS.
Documentaton of renovation expenditures must be retained.
- -50% of exterior walls must remain as exterior walls; and
- -75% of exterior walls must remain as eterior or interior walls; and
- -75% of building’s internal structure must remain.