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Hillside Group,a Partnership,purchased a Building for $60,000 That Was Originally

Question 66

Multiple Choice

Hillside Group,a partnership,purchased a building for $60,000 that was originally placed in service in 1929.The partnership incurs $180,000 rehabilitating the building.The building serves as the partnership's headquarters.The rehabilitation is completed in November 2013.What amount can the Hillside Group claim on their partnership return as a rehabilitation tax credit?


A) $ 2,000
B) $ 3,000
C) $ 6,000
D) $18,000
E) $24,000

Correct Answer:

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