Accounting

est MO. OKF 19. Using the same information in the previous question, calculate Jack's adjusted basis in the home as he prepares to sell it. Jack has the following expenses in the final year that he owns the house:ge s call agent equto Logrun ) icowe (mus g bine live g) EST ows youto Replace the roof ? |4 8) $5,000 w june BUG Replace broken window pane Outside security lights $ $ 50 Landscaping $ 345 est 6 16009 Patch the kitchen wall s sacupe (@s) $ 125 Replace gravel in the driveway $ 220 une yue a) $120,265 s enpitsb) or $120,045 acuennio 21 1-V) sginereq c) $119,500 ow ( 10vo : 1010-265) IRA OT d) $133,045 VA es HOWV VOneLED CKO32 INCOWE kong to youuse Myings 20. Fire damaged Larry's personal residence, and he was forced to buy a new home. Which of onewthe following is listed incorrectly as an adjustment that made to the basis of a replacement Hesq property that resulted from an involuntary conversion? we go beugour ou suorust Legus' super.c. a) Decrease the basis by any loss recognized on the conversion. b) Decrease the basis by any money received that the taxpayer did not spend on similar 06036 property. valued the c) Decrease the basis by any gain recognized on the conversion. or qubeunsure d) Increase the basis by any cost of acquiring the replacement property. 21. With home replacement due to fire, Larry experienced an involuntary conversion, which is reported on his tax return. Which of the following is incorrectly included as an example of an involuntary conversion? ve a) Inheritance b) Casualty C) Theft BY d) Condemnation