34)
The cost basis of the new property would include the closing costs. Hence the correct answer is $200,000
35)
Gross revenue 100,000
Less: Professional insurance 1000
Less: Office supplies 500
Less: deductible mileage 3000
less: home office 1500
Less: meals 1000
Net 93000
Question 34 1 pts 34. Bob owns a rental property for which he paid $150,000 several...
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