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

question 57

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

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Definitions:

Medial Rotation

Medial rotation is a rotational movement toward the midline of the body, typically referring to a movement of the limbs.

Extension

To stretch out.

Anconeus

A small muscle located at the back of the elbow that extends the forearm and assists in elbow joint movements.

Triceps Brachii

A major muscle of the upper arm involved in the extension of the elbow joint.