Form Sc Sch.tc-22 - Credit For A Certified Historic Residential Structure Page 2

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They do not include: (a) the cost of acquiring or marketing the property; (b) the cost of new construction beyond the
volume of the existing certified historic residential structure; (c) the value of an owner's personal labor; or (d) the cost of
personal property.
The State Historic Preservation Officer can be contacted at the South Carolina Department of Archives and History.
Before any work begins, the taxpayer must allow the State Historic Preservation Officer to review all repairs, alterations,
rehabilitation, and new construction on the certified historic residential structure and the property on which it is located.
Repairs or alterations must be consistent with the Secretary of the Interior's Standards for Rehabilitation.
After the work is completed, the taxpayer must obtain certification from the State Historic Preservation Officer verifying
that the completed project was rehabilitated in accordance with the Secretary of the Interior's Standards for Rehabilitation.
For a period of up to five years, additional work done by the taxpayer must be consistent with the Standards for
Rehabilitation. The State Historic Preservation Officer may review additional work and has the right to inspect. Additional
work that the State Historic Preservation Officer deems inconsistent with the Standards for Rehabilitation will result in
forfeiture of any unused credit amount, including any amounts carried forward.
The taxpayer may appeal to the State Review Board to review any determination by the State Historic Preservation
Officer.
More information on tax credits is available at our website ( ). More information on this credit is available at
the website of the S.C. Department of Archives and History ( ).
You must complete a separate TC-22 for each rehabilitated property.
Complete TC-21 if claiming a credit for qualified rehabilitation expenditures for a certified historic structure that also
qualifies for a federal credit under IRC Section 47.
LINE 1: Enter the amount of qualified expenses made to a certified historic residential structure located in South Carolina,
placed in service during this tax year.
LINE 2: The credit amount is 25% of the rehabilitation expenses.
LINE 3: The credit is claimed in equal installments over a 5-year period beginning with the tax year that the property is
placed in service. Enter 20% of line 2 on line 3. If the property was placed in service in a prior year, enter the amount from
line 3 of last year's TC-22.
LINE 4: Annual installments that exceed a taxpayer's tax liability can be carried forward for five consecutive years.
LINE 5: The total available credit is the amount of this year's annual installment plus any amount carried forward from
prior years.
LINE 6: The allowable credit cannot exceed this year's tax liability.
LINE 7: The allowable credit is the lesser of the available credit and this year's tax liability.
LINE 8: The amount of unused credit. Unused installments of credit may be carried forward for five consecutive years.
Social Security Privacy Act Disclosure
It is mandatory that you provide your social security number on this tax form if you are an individual taking this credit. 42 U.S.C
405(c)(2)(C)(i) permits a state to use an individual's social security number as means of identification in administration of any tax. SC
Regulation 117-201 mandates that any person required to make a return to the SC Department of Revenue shall provide identifying
numbers, as prescribed, for securing proper identification. Your social security number is used for identification purposes.
The Family Privacy Protection Act
Under the Family Privacy Protection Act, the collection of personal information from citizens by the Department of Revenue is limited to
the information necessary for the Department to fulfill its statutory duties. In most instances, once this information is collected by the
Department, it is protected by law from public disclosure. In those situations where public disclosure is not prohibited, the Family
Privacy Protection Act prevents such information from being used by third parties for commercial solicitation purposes.
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