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Question 5 Not yet answered Points out of 1.00 P Flag question Bevis...

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Accounting

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Question 5 Not yet answered Points out of 1.00 P Flag question Bevis Bag Co. purchased a tract of land on August 30 of the current year, paying $225,000. Prior to the sale, the seller paid property taxes of $10620 on the property. The taxes covered the calendar year period January 1 through December 31. What will be Bevis' tax basis in the land? 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.]

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