Which of the following correctly describes the tax credit for rehabilitation expenditures?

Question

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The tax credit for rehabilitation expenditures only applies to the rehabilitation of historic structures. Therefore, no credit is allowed for the rehabilitation of a nonhistoric structure. Choices A and B are incorrect because the tax credit only applies to actual rehabilitation expenses and does not include expenses for enlarging or adding new facilities to the building. Choice C is also incorrect because recapture provisions do apply to the tax credit for rehabilitation expenditures.

Which of the Following Correctly Describes the Tax Credit for Rehabilitation