The best way to explain how the basis of purchased property

The best way to explain how the basis of purchased property is determined is __________.

a.	The lower of fair market value (FMV) or the adjusted basis for the seller.
b.	The adjusted basis of the property in the hands of the seller.
c.	The fair market value (FMV) of similar property.
d.	The purchase price of the property plus certain costs incurred at the time of purchase.

The best way to explain how the basis of purchased property is determined is __________.

The basis of purchased property is The purchase price of the property plus certain costs incurred at the time of purchase. Option D is correct