Understanding the Placed-in-Service Dates for LIHTC Sites
Placing a building in service—that is, making it functional within the tax credit program—can be tricky if you’re not sure what’s required and what your options are. And knowing how to place a building in service is important because it affects when your building’s owner can begin claiming its credits.
Here are four tips to follow when placing your building in service. Go over these tips with the owner. That way, you can make sure the owner can claim the tax credits it was allocated for your building.