The basis of the property must be reduced by 50 percent of the business energy credit claimed.

Name: The basis of the property must be reduced by 50 percent of the business energy credit claimed.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the IRS, the basis of the property must be reduced by 50 percent of the business energy credit claimed. This reduction in basis is required because the business energy credit is a form of government subsidy for the installation of energy-efficient property.

The Basis of the Property Must Be Reduced by 50