Business, 19.07.2019 11:30 majesticfart7736

Janice 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, 2017. her realtor charged $34,700 in commissions. prior to listing the house with the realtor, she spent $300 advertising in the local newspaper. don buys the house for $500,000 in cash and assumes her mortgage of $194,000. what is janice's adjusted basis at the date of the sale and the amount realized

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

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