Form It-Rhc - Rehabilitated Historic Credit Page 2
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1
2Part B - Historic Home Located in a Target Area
Determination of Substantial Rehabilitation
1. Amount of the qualified rehabilitation expenditures (line 2e. II.
f
o r
m
y
o
r u
P
a
t r
B
F -
n i
l a
C
e
i t r
c i f
t a
o i
) n
_
_
_______________
. 2
D
o
a l l
i l r
m
t i
t a
o i
n
$
5
0 ,
0
0
3. Subtract line 2 from line 1, if zero or less, STOP, you have not completed a
substantial rehabilitation and are not eligible for this portion of the credit
_________________
Amount of the Credit
_____________
3. Amount from Line 1
. 4
C
e r
i d
i l t
m
t i
t a
o i
n
1
5
%
. 5
M
u
t l
p i
y l
n i l
e
3
b
y
n i l
e
4
_
_
_______________
Part C - Any Other Certified Structure
Determination of Substantial Rehabilitation
1. Amount of the qualified rehabilitation expenditures (Line 2e. II.
f
o r
m
y
o
r u
P
a
t r
B
F -
n i
l a
C
e
i t r
c i f
t a
o i
) n
_
_
_______________
2. Adjusted basis of the home at the beginning of the 24 month
(or 60 month) rehabilitation period. This is the basis used to
determine gain or loss for Federal income tax purposes (Line 2a.
from your Part B-Final Certification)
______________
. 3
D
o
a l l
i l r
m
t i
t a
o i
n
$
5
0 ,
0
0
. 4
E
t n
r e
h t
e
g
e r
t a
r e
f o
n i l
e
2
r o
n i l
e
3
_
_
_______________
5. Subtract line 4 from line 1, if zero or less, STOP, you have not completed a
substantial rehabilitation and are not eligible for this portion of the credit
_________________
Amount of the Credit
_____________
6. Amount from Line 1
. 7
C
e r
i d
i l t
m
t i
t a
o i
n
2
0
%
. 8
M
u
t l
p i
y l
n i l
e
6
b
y
n i l
e
7
_
_
_______________
Summary
1. Enter the total of Part A - line 10, Part B - line 5, and Part C - Line 8
_________________
. 2
M
a
i x
m
u
m
C
e r
d
t i
$
5
0
0
0
3. Enter the lesser of line 1 or line 2 here and on your income tax return
_________________
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