Practitioners Offer Tips on Costs Which Can Be Included in Basis

摘要

Tax practitioners provided tips on how to determine what costs can be included in a low-income housing tax credit project's eligible basis during a recent National Council of State Housing Agencies (NCSHA) conference. In general, costs which are attributable to a building and related improvements and which can be depreciated are includible in eligible basis, according to Beth Mullen, a certified public accountant and principal with the Reznick Group, a Bethesda, Md.-based accounting firm.