sbudlove9061 sbudlove9061

03-06-2023
Business

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Thomas purchased a rental house for $250,000. He put down $50,000 cash and took out a mortgage for the balance of $200,000. At closing, he paid $4,000 in points, $3,500 for legal fees, and $8,500 for delinquent property taxes left unpaid by the seller. What is Thomas's basis in the rental house?
A. $250,000
B. $257,500
C. $262,000
D. $266,000

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