In 2011, Elsie purchased a house for $110,000 to use as her personal residence. She paid $22,000 and borrowed $88,000 from the local savings and loan company. In 2013 she paid $17,000 to add a room to the house. In 2015 she paid $1,600 to have the house painted and $1,100 for buillin bookshelves. As of January 1 of the current year, she has reduced the $88,000 mortgage to $79,200. What is her basis for the house? Her basis for the house is In 2011, Elsie purchased a house for $110,000 to use as her personal residence. She paid $22,000 and borrowed $88,000 from the local savings and loan company. In 2013 she paid $17,000 to add a room to the house. In 2015 she paid $1,600 to have the house painted and $1,100 for buillin bookshelves. As of January 1 of the current year, she has reduced the $88,000 mortgage to $79,200. What is her basis for the house? Her basis for the house is