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Question 41 of 75 Carmelita originally sold her home for $140,000 when her adjusted basis in the home was $100,000. Two years later, she repossessed
Question 41 of 75 Carmelita originally sold her home for $140,000 when her adjusted basis in the home was $100,000. Two years later, she repossessed the home when the balance of the note was $125,000. She resold it within one year for $150,000. Original sale expenses were $3,050, and resale expenses were $3,250. Repossession costs were $1,975. She incurred $2,300 for improvements prior to the resale. What is Carmelita's recomputed adjusted basis? $100,000 $102,300 O$110,575 $125,000 Mark for follow up
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