Which of the following statements regarding the rehabilitation credit is false?
A) After 2017, the credit is available only for costs incurred to rehabilitate certified historic structures.
B) The credit is intended to encourage businesses to undertake urban renewal projects.
C) The credit is claimed only in the year in which the rehabilitated property is placed in service.
D) The credit equals 20 percent of qualified rehabilitation costs.
Correct Answer:
Verified
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