Question: Problem 1 0 - 2 9 ( Algorithmic ) ( LO . 3 , 4 ) Alicia sold her personal residence to Rick on June

Problem 10-29(Algorithmic)(LO.3,4)
Alicia sold her personal residence to Rick on June 30 for $375,000. Before the sale, Alicia paid the real estate tax of $5,625 for the calendar year. For income tax purposes, the deduction is apportioned as follows: $1,125 to Alicia and $4,500 to Rick.
What is Rick's basis in the residence?

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