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Derek purchased an office building in 2019 for $150,000 (including land value of $35,000). Which of the following items decreases his basis? $1,500 cost of
Derek purchased an office building in 2019 for $150,000 (including land value of $35,000). Which of the following items decreases his basis?
$1,500 cost of lawn maintenance.
$4,300 depreciation claimed.
$5,000 spent to repair roof damage from a hailstorm.
$3,000 assessment by Derek's local government for extending water lines to the property.
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