TCS Study Guide 2026
Everything you need to pass the TCS exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 TCS Exam Format at a Glance
📚 TCS Topics to Study (22)
✍️ Sample TCS Questions & Answers
1. A property charges $800 per month for a one-bedroom unit where the tenant pays all utilities. The applicable utility allowance is $150. What is the gross rent?
Gross rent equals the contract rent of $800 plus the utility allowance of $150, totaling $950.
2. State housing agencies may extend the noncompliance correction period for a maximum total of how long?
While the minimum correction period is 60 days, state agencies have discretion to extend the total correction period up to 6 months.
3. A household moves in mid-month. For purposes of the unit fraction test, the unit is counted as occupied starting:
The unit is counted as occupied from the actual move-in date for purposes of satisfying the minimum set-aside and unit fraction tests.
4. Which of the following ownership events at a LIHTC property triggers the requirement for the state agency to file Form 8823 as a building disposition?
A transfer of building ownership is a building disposition that requires the state housing agency to file Form 8823 with the IRS to document the change in ownership.
5. What is the purpose of annual recertification in affordable housing programs?
Annual recertification verifies that tenants continue to meet income and eligibility requirements.
6. A LIHTC building has one vacant unit with a physical deficiency. Must the owner correct it even though no tenant is affected?
All LIHTC units, including vacant ones, must meet physical habitability standards because they are part of the project's qualified low-income housing.