Ownership By Individuals

IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis) · 2026 edition · updated 2026-07-29 · United States

Individuals also own IRC §42 projects directly, and the requirements are exactly the same. The Form 8609 should identify the individual as the owner in box C of Part I. As with business entities, ensure that the Form 8609 was completed and signed by the state agency and that the taxpayer completed the IRC §42(l) (1) certification.

The taxpayer should be maintaining financial statements and summaries (including balance sheets, depreciation schedules, and income statements) regarding the operation of the IRC §42 project.

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▸Contents — IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)

IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)

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