Questions 57 and 60 please. Thank you!

56. Jack purchased a house in January 2015 for $119,000. The house was not his primary residence. During the time Jack owned the house, he deducted $13,000 for depreciation. The county installed water and sewer connections (valued at $7,000). Jack had to rewire the house, which cost $1,500. He has lived in the house since January of 2018. What is Jack's adjusted basis in the house? (a) $114,500 b) $106,000 c) $127,500 d) $119,000 57. Jack purchased a house in January 2015 for $119,000. The house was not his primary residence. During the time Jack owned the house, he deducted $13,000 for depreciation. The county installed water and sewer connections (valued at $7,000). Jack had to rewire the house, which cost $1,500. He has lived in the house since January of 2018. Calculate Jack's adjusted basis in the home as he prepares to sell the home. Jack has the following expenses in the final year that he owns the house: Replace the roof Replace broken windowpane Patch the kitchen wall $ 5,000 $ 50 $ 125 Outside security lights Landscaping Replace gravel in the driveway $ 200 $ 345 $ 220 a) $120,265 b) $120,045 c) $119,500 d) $133,045 58. Fire damaged Larry's residence, and he was forced to buy a new home. All of the following are listed correctly as adjustments made to the basis of replacement property that resulted from an involuntary conversion except: a) Decrease the basis by any loss recognized on the conversion. b) Decrease the basis by any money received that the taxpayer did not spend on similar property. Decrease the basis by any gain recognized on the conversion. d) Increase the basis by any cost of acquiring the replacement property. 59. With home replacement due to fire, Larry experienced an involuntary conversion, which is reported on his tax return. Which of the following is incorrectly included as an example of an involuntary conversion? a) Inheritance b) Casualty c) Theft d) Condemnation 60. Jacob purchased a rental property in 2018. The original price of the house was $158,000. Jacob paid real estate taxes of $1,500 on behalf of the seller, which was not reimbursed by the seller. Jacob also paid $3,000 title insurance fee, $5,000 loan assumption fee, and $800 homeowner insurance. What amount is the original basis of the rental property? a) $167,500 b) $158,000 c) $ 163,300 d) $162,500