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Federal Tax Credit or NC Tax Credit For 2017, is there any…

Federal Tax Credit or NC...
Federal Tax Credit or NC Tax CreditFor 2017, is there any type of tax credit for replacing a roof on a historical house (1870)? It is primary residence. They will either replace the roof or do "hydrostop".Thanks,
JW
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Answered in 15 minutes by:
10/1/2017
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,420
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome back to Just Answer.

There is a federal tax credit of 20%, but it must be for income-producing property--not private residences.

also provides a 15% state tax credit for certified rehabilitations of non-income-producing historic buildings listed in the National Register or located within National Register districts, including private residences. The maximum credit allowed is $22,500.

See the following: http://www.hpo.ncdcr.gov/assist.htm

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,420
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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