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    Exam 10: Property Transactions: Determination of Basis and Gains and Losses
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    Terry Trumbull Purchased a Tract of Land
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Terry Trumbull Purchased a Tract of Land

Question 60

Question 60

True/False

Terry Trumbull purchased a tract of land. In order to have city water, he had to pay the water company $5,000 to extend the water line to his property. fte $5,000 cost is an addition to the basis of the land.

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