To Obtain the Rehabilitation Expenditures Tax Credit Certain Criteria Must

Multiple Choice

To obtain the rehabilitation expenditures tax credit certain criteria must be satisfied.Which of the following are correct statements about the credit?
I.Rehabilitation of business-use,investment-use,and personal-use residential real estate that is certified as historic qualifies for the historic structures rehabilitation credit.
II.The rehabilitation work cannot remove more than 25% of the internal walls and framework.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.