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Tabitha sells real estate on March 2 of the current year for $260,000. The buyer, Ramona, pays the real estate taxes of $5, 200 for
Tabitha sells real estate on March 2 of the current year for $260,000. The buyer, Ramona, pays the real estate taxes of $5, 200 for the calendar year, which is the real estate property tax year. Round any division to four decimal places and use in subsequent calculations. Round your final answers to the nearest dollar. Assume a 365-day year. $ 855 of the real estate taxes is apportioned to and is deductible by the seller, Tabitha, and $ 4, 345 of the taxes is deductible by Ramona. Ramona's basis is in the property is $ 255, 655 and the amount realized by Tabitha from the sale is $ 259, 146
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