Property that was used as a tax deduction on one spouse's prior years' tax returns and is now being transferred to the other spouse for use is entitled to a/an

Question

Quizplus · Accepted Answer

The property transferred to the other spouse for use, which was previously used as a tax deduction, may be entitled to an investment tax credit. This credit is designed to encourage investment in certain types of property by allowing a portion of the investment cost to be deducted directly from one's tax liability, rather than being depreciated over time.

Property That Was Used as a Tax Deduction on One