The 10% tax credit is available for the rehabilitation of non-historic buildings that were built before 1936 and that will be used for income-producing purposes other than residential.

– The property must be depreciable – commercial.
– Rehabilitation must be substantial, meaning that the cost of the rehabilitation must exceed the greater of either $5,000 or the adjusted basis of the property.
– The 10% credit applies only to buildings rehabilitated for non-residential uses.