Case Study 8 of 8: Qualifying as a designer of energy-efficient properties Our final review of the IRS case studies in Memorandum AM 2018-005 wraps up our series examining eight scenarios that help clarify the confusion that can surround a successful §179D tax deduction allocation. As IRS §179D tax deduction allocations have been […]
Case Study 7 of 8: Qualifying as a designer of energy-efficient properties While taxpayers often first think of HVAC and building envelope improvements when considering qualifying §179D energy and power cost savings, lighting improvements can also qualify. Of the eight factual case studies the IRS released in Memorandum AM 2018-005, the seventh scenario examines […]
There’s an important paperwork change for filing the Section 179D Energy Efficient Commercial Building Deduction. On Jan. 11, 2023, the IRS published the new Form 7205 for taxpayers interested in claiming this deduction. What is the new Form 7205? The new form provides taxpayers with a new place to calculate, document, and claim […]