IRS definition of a “building”

How does the IRS define a “building” for purposes of the 20% tax credit for rehabilitating historic buildings?

Answer
Treasury Regulation 1.48-1(e) defines a building as any structure or edifice enclosing a space within its walls, and usually covered by a roof, the purpose of which is, to provide shelter or housing, or to provide working, office, parking, display, or sales space.

In Baltimore, Maryland, this historic school was converted to senior housing during rehabilitation. Photo: NPS files

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Tax Aspects of Historic Preservation -
Frequently Asked Questions