Multiple Choice
Which of the following statements is not correct regarding the residential energy efficient property (REEP) credit?
A) Credits earned but not used in the current year can be carried forward to the next year.
B) The taxpayer's basis in the property is reduced by the credit.
C) The REEP credit is phasing out over the next few years.
D) All of the above statements regarding the REEP credit are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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