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On 7/1/15 Augusta decided to convert her personal residence into rental property. The net book value of her home on 7/1/15 is $250,000 but the
On 7/1/15 Augusta decided to convert her personal residence into rental property. The net book value of her home on 7/1/15 is $250,000 but the fair market value is only $200,000. What is the basis of her rental property?
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