Business, 17.10.2019 06:00 20alondra04

Jamie bought her house in 2008 for $395,000. since then, she has deducted $70,000 in depreciation associated with her home office and has spent $45,000 replacing all the old pipes and plumbing. she sells the house on july 1, 2014. her realtor charged $34,700 in commissions. prior to listing the house with the realtor, she spent $300 advertising in the local newspaper. sammy buys the house for $500,000 in cash, assumes her mortgage of $194,000, and pays property taxes of $4,200 for the entire year on december 1, 2014. what is jamie's adjusted basis at the date of the sale and the amount realized?

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Jamie bought her house in 2008 for $395,000. since then, she has deducted $70,000 in depreciation as...

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