2026 FULL QUESTIONS AND VERIFIED
ANSWERS
⩥ Payment for construction from note proceeds. Answer: Building
⩥ Cost of land fill and clearing. Answer: Land
⩥ Delinquent real estate taxes on property assumed by purchaser.
Answer: Land
⩥ Premium on 6-month insurance policy during construction. Answer:
Buildings
⩥ Refund of 1-month insurance premium because construction
completed early. Answer: Building
⩥ Architect's fee on building. Answer: Building
⩥ Cost of real estate purchased as a plant site. Answer: Land
⩥ Commission fee paid to real estate agency. Answer: Land