question 30

Help Save & Exh On July of year 1. Elatne purchased a new home for $725,000 At the time of the purchase. It was estimated that the property tax bill on the home for the year would be $14,500 (5725,0002)On the settlement statement, Elaine was charged $7.250 for the year in property taxes and the seller was charged $7.250. On December 31 year 1. Elaine discovered that the real property taxes on the home for the year were actually $15.500. Elaine wrote a 515,500 check to the local government to pay the taxes for that calendar year (Elaine was bable for the taxes because she owned the property when they became due) What amount of real property taxes is Elaine allowed to deduct for year 17 (Assume not married filing separately) Multiple Choice o 57750 SO $8.250 $7.250 for yea y Assume not married Wing separately) Multiple Choice 57750 58 250 $7.250 $15.500