Novogradac Principles of LIHTC Eligible Basis Recording (Apr 2021)

This webinar recording examines the factors to consider when determining proper capitalization of costs to fixed assets and the subsequent inclusion of those costs in LIHTC eligible basis. The focus of the discussion centers on the construction phase of a development. This webinar will address federal statutes and guidelines, including the 2014 IRS Audit Technique Guide for Low-Income Housing Tax Credits

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Original Air Date: April 8, 2021
Duration: 3 hours
Access to Recording Expires: April 8, 2022


Dirk Wallace, CPA

Lucy Mai Tran, CPA

Wayne Michael, CPA, NPCC, HCCP
Senior Director of Education


Topics Covered


  • Eligible basis overview
  • Commercial space
  • Caps on fees to contractor and developer
  • Land
    • Demolition
    • Tenant relocation
    • Land improvements
    • “Inextricably associated”
  • Impact fees
  • Off-site improvements
  • Dedicated improvements
  • Acquisition costs
  • Common areas, exempt units, community service facilities
  • Soft-cost capitalization
    • Direct
    • Indirect
    • Other
    • Timing of capitalization
    • Developer fees
    • Bond issuance costs
    • Interest
    • Multiple buildings
  • Adjustments to eligible basis according to the IRS
  • Maximum qualified basis

Target Audience

The webinar is primarily intended for LIHTC property owners, development team members and asset managers, but we welcome on-site managers, as well as anyone interested in ensuring that the property generates the full amount of tax credits it was awarded. A basic understanding of the LIHTC program is recommended.

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Registration Rates*

Standard: $150
Nonprofit: $130
Multiple Registration: $125/person ($110/person for nonprofits)

For questions or registration assistance, please contact us at 415-356-7960 or email [email protected].

*The standard and nonprofit registration fee for live webinars and for webinar recordings covers a single viewer only. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.