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.

---

Definitions:

Release of Ejecta

Refers to the process where material is expelled or thrown out, often used in the context of volcanic eruptions or meteorite impacts.

Greenhouse Effect

The process by which radiation from a planet's atmosphere warms the planet's surface to a temperature above what it would be without its atmosphere.

Toxic Wastes

Hazardous waste materials that can cause death, injury, or health issues in living organisms upon exposure.

Ocean Currents

Large-scale movements of water within the oceans that play a critical role in regulating the Earth's climate by distributing heat around the planet.