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Harriet purchased an office building that is a certified historic structure. Harriet paid $100,000 for the building, and over the next 15 months, she spent
- Harriet purchased an office building that is a certified historic structure. Harriet paid $100,000 for the building, and over the next 15 months, she spent an additional $150,000 to rehabilitate it.
- Compute Harriets rehabilitation credit.
- Compute Harriets basis in the building for depreciation purposes if she elects to take the rehabilitation credit.
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