On February 2,2014,Karin purchases real estate for $375,000.The annual property taxes of $5,000 are payable on December 31.Realizing that she will pay the property taxes for the entire year,Karin remits $374,575 to the seller at closing.Karin's adjusted basis for the real estate is:
A) $374,575.
B) $375,000.
C) $375,425.
D) $379,575.
E) None of these.
Correct Answer:
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