Mary Beth purchased her primary residence for $280,000.00. As part of the closing procedure, she paid $2,900 in a loan originati

Question

2 years ago

6

Mary Beth purchased her primary residence for $280,000.00. As part of the closing procedure, she paid $2,900 in a loan originati

on fee, $750 to a lawyer to review the purchase contract and other closing papers, $150 for a property survey, and $1,200 for title insurance. She also gave the real estate agent a $100 gift certificate in appreciation for his hard work. What is Mary Beth's basis residence?
a. $280,000.
b. $281,350.
c. $282,100.
d. $282,900

Business