D Owns a New Pizza Restaurant

Multiple Choice

D owns a new pizza restaurant.She converted her home, which she had purchased for $75,000 for use in the business when it was worth $70,000.Which of the following is not true of the home's basis for the business?

A) $75,000 is used for determining depreciation.
B) $70,000 is used for determining loss.
C) $75,000 is used for determining gain.
D) The basis must be adjusted for depreciation allowed or allowable for determining either gain or loss.