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Determine what is mary beth basis residence

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Problem 1: Mary Beth purchased her primary residence for $280,000.00. As part of the closing procedure, she paid $2,900 in a loan origination fee, $750 to a lawyer to review the purchase contract and other closing papers, $150 for a property survey, and $1,200 for title insurance. She also gave the real estate agent a $100 gift certificate in appreciation for his hard work. What is Mary Beth's basis residence?

Reference no: EM132695496

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Determine what is mary beth basis residence : Mary Beth purchased her primary residence for $280,000.00. As part of the closing procedure, What is Mary Beth's basis residence?
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