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Which of the following statements regarding the rehabilitation credit is false ? After 2017, the credit is available only for costs incurred to rehabilitate certified

Which of the following statements regarding the rehabilitation credit is false?

  • After 2017, the credit is available only for costs incurred to rehabilitate certified historic structures.

  • The credit is claimed only in the year in which the rehabilitated property is placed in service.

  • The credit equals 20 percent of qualified rehabilitation costs.

  • The credit is intended to encourage businesses to undertake urban renewal projects.

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