$26.95 
Learn more
Submitted By: Richard
Answered: May 22, 2015 12:21 pm
Answered: May 22, 2015 12:21 pm
Even though married, I file a separate return from my spouse. Does this affect my ability to claim the low-income housing credit?
No, filing status has no impact on eligibility for the credit. Owners of residential low-income rental buildings can claim a low-income housing credit over a 10-year period. You can learn more about the low-income housing credit from the U.S. Department of Housing and Urban Development at http://portal.hud.gov/hudportal/HUD?src=/program_offices/comm_planning/affordablehousing/training/web/lihtc/basics.
advertisement
Featured Books
Tax Glossary
Estimated tax
Advance payment of current tax liability based either on wage withholdings or installment payments of your estimated tax liability. To avoid penalties, you generally must pay to the IRS either 90% of your final tax liability, or either 100% or 110% of the prior year’s tax liability, depending on your adjusted gross income.
