To do: Use the given information to determine the basis in each scenario. Each scenario is worth 5 points.		Basis
Scenario 1: Personal Residence Basis Adjusted for Business Use	Gloria is a realtor and has a home office to run her business. Earlier in the year, she purchased her current home, which will serve as her principal residence, for $500,000. The costs that are directly related to her home office are $5,250. Of that amount, $1,000 was for depreciation. What is the adjusted basis of the home?