In May 2008, Cindy incurred qualifying rehabilitation expenditures of $500,000 on a certified historic structure and properly claimed the tax credit for rehabilitation expenditures.In March 2012, she sold the building at a loss.Calculate the rehabilitation expenditures credit recapture that she must report in 2012.

Question

Quizplus · Accepted Answer

The Answer of In May 2008, Cindy incurred qualifying rehabilitation expenditures of $500,000 on a certified historic structure and properly claimed the tax credit for rehabilitation expenditures.In March 2012, she sold the building at a loss.Calculate the rehabilitation expenditures credit recapture that she must report in 2012.

In May 2008, Cindy Incurred Qualifying Rehabilitation Expenditures of $500,000