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Issue Number: IR-2023-142
Inside This Issue
IRS: Builders of qualified new energy efficient homes might qualify for an expanded tax credit under Section 45L
WASHINGTON – The Internal Revenue Service reminds eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home.
The actual amount of the credit depends on eligibility requirements such as the type of home, the home’s energy efficiency and the date when someone buys or leases the home. This important credit was expanded as part of the Inflation Reduction Act of 2022.
Eligibility for builders and homes
The homes must also be specified categories of single-family (including manufactured) or multifamily homes under Energy Star programs, be located in the United States, and meet applicable energy saving requirements based on home type and acquisition date.
Requirements and credit amounts for 2023 and after
Requirements and credit amounts before 2023
Properly claiming the credit
Use Form 8908, Energy Efficient Home Credit, to claim the Section 45L credit. If the source to claim the credit is from a partnership or S corporation, eligible contractors should use Form 3800, General Business Credit.
The IRS encourages eligible contractors to practice good recordkeeping of all documents required to support a claim for the Section 45L credit.
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