Sergio Was Required by the City to Pay $2,000 for the Cost

question 56

True/False

Sergio was required by the city to pay $2,000 for the cost of new curbing installed by the city in front of his personal residence.The new curbing was installed throughout Sergio's neighborhood as part of a street upgrade project.Sergio may not deduct $2,000 as a tax, but he may add the $2,000 to the basis of his property.

---

Definitions:

Chalky Fossils

Fossils composed primarily of calcium carbonate making them appear white and chalk-like in texture.

White Cliffs

Natural formations made of white, chalky material, like the famous White Cliffs of Dover along the English coastline.

Diatomaceous Earth

A naturally occurring, soft, siliceous sedimentary rock that is easily crumbled into a fine white to off-white powder, used in various industrial and commercial applications.

Pellicle

Structure that supports the cell membrane of some species of protists; used to maintain structure in a water environment.