
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, February 20, 1995                   TAG: 9503300020
SECTION: BUSINESS                    PAGE: A8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

TAKING TAX CREDIT FOR REHABILITATION OF HISTORIC PROPERTY

A: Are there legitimate tax credits for the rehabilitation of a historical building, or one that is listed in a historical district/socitey? If so, how does a taxpayer go about taking this credit on a tax return?

Also, if you have two years to reinvest capital gains, when does it have to be listed on your tax return, or does it if it has been reinvested in other property? If so, what form is used to report this?

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by CNB