The IRS has proposed regulations relating to the rehabilitation tax credit.

The proposed regs reflect changes to the credit made by the Tax Cuts and Jobs Act (TCJA). They set out rules about the recapturing of the investment credit as well as rules under which the basis of property that qualifies for an investment credit is reduced by the credit’s amount.

Additional rules address certain leased property and the investment credit. The regs are proposed to apply to tax years starting on or after the date the Treasury adopts the regs as final regs and they’re published in the Federal Register.

Read what’s proposed: https://go.aws/3ebGFXh