Susan Co. purchased a tract of land on August 5 of the current year, paying $225,000. Prior
Fantastic news! We've Found the answer you've been seeking!
Question:
Susan Co. purchased a tract of land on August 5 of the current year, paying $225,000. Prior to the sale, the seller paid property taxes of $14240 on the property. The taxes covered the calendar year period January 1 through December 31.
How much will Susan be allowed to deduct any portion of the property taxes paid by the seller prior to the sale?
A taxpayer owns the new home including the date of purchase for property tax computation.
[For your answer, please use whole number and ignore the dollar sign and the comma.
Expert Answer:
Posted Date:
