If a Taxpayer Is Required to Recapture Any Tax Credit

question 74

True/False

If a taxpayer is required to recapture any tax credit for rehabilitation expenditures, the recapture amount need not be added to the adjusted basis of the rehabilitation expenditures.

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Definitions:

Type A Personality

A temperament characterized by high levels of competitiveness, self-motivation, and a constant sense of urgency.

Heart Disease

A range of conditions that affect the heart, including coronary artery disease, heart attacks, congestive heart failure, and congenital heart defects.

Hostility

Feelings of anger, aggression, or opposition towards others, which can manifest in various behaviors or attitudes.

Federal Loan Program

A government initiative in the United States that provides financial assistance to students for education, typically with lower interest rates and more flexible repayment options than private loans.