These costs must qualify for amortization. You can take the investment credit for reforestation costs whether you choose to amortize them or add them to the basis of your property. There is no carryforward or carryback of costs that are more than the dollar limit. For more information about these costs, see Amortization in chapter 8 . The rehabilitation credit applies to costs you incur for rehabilitation and reconstruction of certain buildings.
Rehabilitation includes renovation, restoration, and reconstruction.
It does not include enlargement or new construction. See the instructions for Form 3468 for more information. See the instructions for Form 3468 for more information. You generally must reduce the basis of assets on which you take an investment credit. See the instructions for Form 3468.