RR-2020-04: Low-Income Housing Credit

29 Jan 2020 10:22 AM | Anonymous

Revenue Ruling 2020-04 clarifies the manner to properly compute the income limits applicable to the low-income housing credit under § 42 of the Internal Revenue Code.  The Consolidated Appropriations Act of 2018 added a new minimum set-aside test, the average income test (§ 42(g)(1)(C)), to the existing minimum set-aside tests available to owners of a low-income housing project.  This revenue ruling addresses the additional income limits available in the average income test.

Revenue Ruling 2020-04 will be in IRB:  2020-8, dated February 18, 2020.

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