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This comes after the House signed the bill which extends the §179D Tax Deduction and §45L Tax Credit retroactively for projects (purchased, new construction and renovations).
Baseline requirements for the qualification of §179D Tax Deduction will remain ASHRAE 90.1-2007
For buildings which do not meet the 50% savings, the tax provision also allows for partially qualifying system:
Tax payers no longer have to amend the return for 179D with the Revenue Procedure 2011-14, which allows taxpayers to claim this deduction back to 1/1/2006 without filing amended returns, instead file a Form 3115 (Change in Accounting Method) and will take the entire “catch up” deduction on the return that is being filed.
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Square Feet
50,000 sf
100,000 sf
300,000 sf
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Lights HVAC Envelope
$30k $30k $30k
$60k $60k $60k
$180k $180k $180k
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Full Tax Deduction
$90,000
$180,000
$540,000
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