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State Residential Historic Rehabilitation Tax Credit

State Residential Historic Rehabilitation Tax Credit 2025

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The document is the Maryland Form 502S for the 2022 Heritage Structure Rehabilitation Tax Credit, which allows taxpayers to claim credits for rehabilitating certified historic structures in Maryland. It outlines the necessary steps for certification by the Maryland Historical Trust, details on allowable expenditures, credit calculations, and instructions for filing. The form specifies maximum credit limits based on property type and includes guidelines for claiming credits for multiple properties.

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Click ‘Get Form’ to open the State Residential Historic Rehabilitation Tax Credit form in the editor.
Begin by entering your name and Taxpayer Identification Number. If claiming credit from another entity, check the appropriate box and provide their Federal Employer Identification Number.
Enter the MHT Project Number and the property location details including street address, city, state, and ZIP code.
Input your certified rehabilitation expenditures on line 2. Ensure this amount is certified by the Maryland Historical Trust.
Calculate your credit for certified rehabilitation expenditures by multiplying line 2 by 20% and enter this value on line 3.
If applicable, calculate any additional credit for high performance buildings on line 4. Otherwise, enter 0.
Add lines 3 and 4 for your total credit amount on line 5, ensuring it does not exceed the maximum limits specified.
Finally, complete line 6 by subtracting any recaptures from line 5 if applicable. Attach all necessary documents before submission.

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Versions	Form popularity	Fillable & printable
2023	4.9 Satisfied (51 Votes)
2022	4.3 Satisfied (51 Votes)
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2020	4.4 Satisfied (139 Votes)

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Do you get a tax credit for home improvement?

If you make qualified energy-efficient improvements to your home after Jan. 1, 2023, you may qualify for a tax credit up to $3,200. You can claim the credit for improvements made through 2032. For improvements installed in 2022 or earlier: Use previous versions of Form 5695.

What is the 10 year rule for tax credits?

10-Year Rule: The building is eligible for acquisition credit so long as the existing building was not placed-in-service during the 10-year period preceding the acquisition.

What is the historic rehabilitation tax credit program?

The credit provides a tax incentive to rehabilitate historic buildings. If your rehabilitation and expenses qualify, you may claim a tax credit equal to 20% of your qualified expenses. The credit is allocated ratably over a 5-year period on your federal income tax return.

What is the RCE tax credit?

The Residential Clean Energy Credit equals 30% of the costs of new, qualified clean energy property for your home installed anytime from 2022 through 2032.

Which of the following would make a building ineligible for the 20% historic preservation tax credit?

Owner-occupied residential properties do not qualify for the federal rehabilitation tax credit. The 20% credit is available only to properties rehabilitated for income-producing purposes, including commercial, industrial, agricultural, rental residential or apartment use.

How many states have historic tax credit programs?

There are currently 38 states with state historic tax credit programs that can provide additional incentives for the rehabilitation of income-producing properties.

State Residential Historic Rehabilitation Tax Credit 2025

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Got questions?

Do you get a tax credit for home improvement?

What is the 10 year rule for tax credits?

What is the historic rehabilitation tax credit program?

What is the RCE tax credit?

Which of the following would make a building ineligible for the 20% historic preservation tax credit?

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How many states have historic tax credit programs?

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State Residential Historic Rehabilitation Tax Credit 2025

Here's how it works

How to use or fill out State Residential Historic Rehabilitation Tax Credit with our platform

See more State Residential Historic Rehabilitation Tax Credit versions

Complete this form in 5 minutes or less

Got questions?

Do you get a tax credit for home improvement?

What is the 10 year rule for tax credits?

What is the historic rehabilitation tax credit program?

What is the RCE tax credit?

Which of the following would make a building ineligible for the 20% historic preservation tax credit?

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