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Question 14 of 30. Thomas purchased a rental house for $250,000. He put down $50,000 cash and took out a mortaage for the balance of
Question 14 of 30. Thomas purchased a rental house for $250,000. He put down $50,000 cash and took out a mortaage for the balance of $200,000. At closing, he paid $4,000 in points, $3,500 for legal fees, and $8,500 for delinquent property taxes left unpaid by the seller. What is Thomas's basis in the rental house? $250,000 O $257,500 O $262.000 O $266,000
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