Several years ago, Sarah purchased a structure for $150,000 that was placed in service in 1929 . In the current year, she incurred qualifying rehabilitation expenditures of $200,000 . The amount of the tax credit for rehabilitation expenditures, and the amount by which the building's basis for cost recovery would increase as a result of the rehabilitation expenditures are the following amounts
a. $20,000 credit, $180,000 basis.
b. $20,000 credit, $200,000 basis.
c. $20,000 credit, $350,000 basis.
d. $40,000 credit, $160,000 basis.
a
RATIONALE: Credit: $20,000 = $200,000 × 10%; basis increase: $180,000 = $200,000 (cost) – $20,000 (credit).
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A. It generally does not make a person liable on the instrument even if he or she is engaged in any illegality affecting the instrument. B. It applies only to payments made to a depositary bank. C. It makes a person liable on an instrument indorsed by him or her if the person primarily liable on it does not pay it. D. It does not affect future attempts to negotiate the instrument.
A vulnerability chart:
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As per the Occupational Safety and Health Administration standards, all record-keeping forms must be retained for seven years by an organization and must be available for inspection.
Answer the following statement true (T) or false (F)
The master schedule reflects demand from ______.
A. final customers only B. all possible sources in an organization C. demand forecasts only D. internal customers only