Min purchased her primary residence for $260,000. As part of the closing procedure, she paid $2,300 in a loan origination fee, $750 to a lawyer to review the purchase contract and other closing papers, $150 for a property survey, and $800 for title insurance. She also gave the real estate agent a $75 gift basket in appreciation for his hard work. What is Min's basis in the residence?

Answer rating: 100% (QA)

Step 11 What is Mins basis in the residence Answer to determine ... View the full answer