Cohousing-L Mailing List: Re: IRS 179D Tax Deduction

[John Pustell (jpustell]

Katie - 

Investors at Bay State Cohousing LLC (BSC LLC) all received our share of an 
energy efficient construction tax credit of $3,000 credit per unit for tax year 
2022 (the year we received our certificate of occupancy and bought our units 
from the development company).  It was a 179D. We used a consultant to help 
with the documentation and I highly recommend them.

Stan Fowler, National Tax Group, 561-327-7934, sfowler [at] ntgadvantage.com

Stan was easy to work with and made sure he kept in touch over the couple of 
years it took from contact with us until we got the stage where we could 
certify the credit.  They are not free but the fee was reasonable and we all 
considered this found money.

John Pustell

-----Original Message-----
From: Cohousing-L [mailto:cohousing-l-bounces+jpustell=verizon.net [at] 
cohousing.org] On Behalf Of Katie Henry
Sent: Monday, September 25, 2023 3:03 PM
To: Cohousing-L Cohousing-L <cohousing-l [at] cohousing.org>
Subject: [C-L]_ IRS 179D Tax Deduction

We're under construction, 36 homes and a common house. Our architect suggested 
we investigate the IRS Section 179D tax deduction for energy efficient 
commercial buildings. Has anybody looked into this?

https://www.irs.gov/credits-deductions/energy-efficient-commercial-buildings-deduction


This wouldn't apply to the homes but could it possibly apply to the common 
house? One requirement is that "it�must be property for which depreciation or 
amortization is allowable." We're a condominium association, so I don't believe 
that applies. I wonder if we could work out an accounting maneuver between the 
development LLC and the HOA to make it eligible. That's probably wishful 
thinking. :)

Katie Henry
Heartwood Commons - Tulsa�
https://www.heartwoodcommonstulsa.com/




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