Answered

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Logan purchased a rental home and lot for $150,000. Her expenses totaled $5,000. Lots in the area sell for approximately $10,000. What is Logan's basis for depreciation in the house

Sagot :

Answer:

The correct response is "145,000 ".

Explanation:

The given values are:

Purchased cost,

= $150,000

Expenses,

= $5,000

Selling cost,

= $10,000

Now,

Logan's basis for depreciation will be:

= [tex]Purchased \ cost+Expenses-Selling \ cost[/tex]

On putting the values, we get

= [tex]150000+5000-10000[/tex]

= [tex]155000-10000[/tex]

= [tex]145,000[/tex] ($)

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