Question: ( A & D ) Sally owns real property for which the annual property taxes are $ 8 , 0 8 4 . She sells

(A & D) Sally owns real property for which the annual property taxes are $8,084. She sells the property to Kate on May 23,2024, for $673,650. Kate pays the real property taxes for the entire year on October 1,2024.
2024 is a leap year consisting of 366 days. Round any division to four decimal places. Round your final answers to the nearest dollar.
a. How much of the property taxes can be deducted by Sally and how much by Kate?
Sally can deduct $
X and Kate can deduct $
X of the property taxes.
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b. What effect does the property tax apportionment have on Kate's adjusted basis in the property?
Kate's adjusted basis for the property
by the amount apportioned to Sally.
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c. What effect does the apportionment have on Sally's amount realized from the sale?
Sally paid none of the real property taxes. She permitted to deduct her apportioned share of the taxes. Her amount realized
by this amount.
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d. How would the answers in parts (b) and (c) differ if Sally paid the taxes?
If Sally paid the taxes, Sally's amount realized would be : q,. Kate's adjusted basis would be $ q,
( A & D ) Sally owns real property for which the

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