Emily spent $212,800 to rehabilitate a certified historic building (adjusted basis of $138,320) that originally had been placed in service in 1935. Compute Emily's credit for rehabilitation expenditures. 21,280 x Foodback Check My Work Taxpayers are allowed a tax credit for expenditures incurred to rehabilitate industrial and commercial buildings and certified historic structul The rehabilitation expenditures credit is intended to discourage businesses from moving from older, economically distressed areas (e.g., inne cities) to newer locations and to encourage the preservation of historic structures