Sue purchased a rental house five years ago for $102,000. She had a new roof installed for $3,000, added a garage at a cost of $10,000, painted and installed new wallpaper at a cost of $350, and took $15,692 in depreciation. What is her adjusted basis in the property?

Answer rating: 100% (QA)

To find Sues adjusted basis in the rental house we need to consider the original purchase price ... View the full answer