- Federal Taxes This case has two independent parts. Answer them separately. Identify your answer. Show computations. 1. In May 2016, Lola incurred qualifying rehabilitation expenditures of $500,000 on a certified historic structure and properly claimed the tax credit for rehabilitation expenditures. In March 2016, she sold the building at a loss. Calculate the rehabilitation expenditures credit recapture that she must report in 2016. 2. In May 2016, Zico Corp hired Maria, Johana, and Emeterio, all of whom are certified as long-term family assistance recipients. Each employee is paid $12,000 during 2015. Johana and Emeterio continued to work for Blue Corporation in 2016, earning $14,000 each. Blue hired no additional employees during 2016. Compute Zico Corp's work opportunity tax credits for 2015 and 2016. a. Assume Zico Corp's pays total wages of $500,000 to its employees during 2015 and $560,000 during 2016. How much may Zico Corporation claim as a wage deduction for 2015 and 2016 ifthe work opportunity tax credit is claimed in both years? b