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Discuss what is john''s adjusted basis in the condo

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John Purdue purchased a condominium to use as a rental property. The cost of the condominium was $379,000. He paid an attorney $1,100 to draft the legal documents related to the purchase. He paid $9,000 for improvements and $2,900 for various repairs to the property. He claimed a first-year cost recovery deduction of $8,818. What is John's adjusted basis in the condo?

Reference no: EM131749576

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