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Updated 8 days ago on . Most recent reply

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Mike H.
  • Rental Property Investor
  • Manteno, IL
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Any tax credits for rehabbers for energy efficiency upgrades (passed on to buyers?)

Mike H.
  • Rental Property Investor
  • Manteno, IL
Posted

So I'm working on a project that is going to require full on gut rehabs on a significant number of homes
and some smaller apartment buildings (3, 4 and 6 unit bldgs).  These rehabs are going to need all new roofs,
all new windows, all new hvac and many all new electric. 

I know they have some energy efficient tax credits for homeowners.  I was wondering if they had any for the investor
if they upgrade all those things on a house or multifamily.  OR, possibly, could we give the receipts to the buyers
so that they can claim the upgrades for tax credits for themselves?

Its in Illinois, so if anybody knows of any state or federal credits that might work, please let me know.

thanks

Most Popular Reply

User Stats

2,243
Posts
2,154
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Mike H.
  • Rental Property Investor
  • Manteno, IL
2,154
Votes |
2,243
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Mike H.
  • Rental Property Investor
  • Manteno, IL
Replied
Quote from @Mike H.:

@Aaron Zimmerman   I followed the link and it is in an enterprise zone.  I'm trying to find the benefits, if any, for rehabbers but don't seem to be having much luck.  I have an email into the region's EZ administrator to see if they have something.  And now I'm going to do some more research on EZ benefits to see if there's something that may be of value.....  Thanks.

I did find that I can save sales tax on materials if I fill out a form.  Since these are full on gut rehabs, we're talking about 100k rehabs.  Of that mayber 40k in materials.  So 3k to 4k savings?  I'll take that. 

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