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Which of the following are included in the tax basis of a real estate property? (I = included; N = not included): _____ Amounts paid
Which of the following are included in the tax basis of a real estate property?
(I = included; N = not included):
_____ Amounts paid to acquire the property.
_____ Amounts borrowed to construct property.
_____ The cost of labor paid to contractors to construct property.
_____ The value of other property given to the seller in exchange for the property.
_____ Bidding fees related to acquiring the property.
_____ Amounts paid to third party appraiser to determine the value of the property.
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