Sally owns real property for which the annual property taxes are $14,130. She sells the...
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Sally owns real property for which the annual property taxes are $ She sells the property to Kate on April for $ Kate pays the real property taxes for the entire year on October Assume a day year. Round any division to four decimal places. Round your final answers to the nearest dollar. a How much of the property taxes can be deducted by Sally and how much by Kate? tableSally can deduct $and Kate can deduct $of the property taxes. b What effect does the property tax apportionment have on Kate's adjusted basis in the property? Kate's adjusted basis for the property is by the $ she paid that is apportioned to Sally. c What effect does the apportionment have on Sally's amount realized from the sale? Sally paid none of the real property taxes and. permitted to deduct the apportioned share of $ Her amount realized is ; by this amount. d How would the answers in parts b and c differ if Sally paid the taxes? If Sally paid the taxes, Sally's amount realized would be $ Kate's adjusted basis would be $ 
Sally owns real property for which the annual property taxes are $ She sells the property to Kate on April for $
Kate pays the real property taxes for the entire year on October
Assume a day year. Round any division to four decimal places. Round your final answers to the nearest dollar.
a How much of the property taxes can be deducted by Sally and how much by Kate?
tableSally can deduct $and Kate can deduct $of the property taxes.
b What effect does the property tax apportionment have on Kate's adjusted basis in the property?
Kate's adjusted basis for the property is
by the $
she paid that is apportioned to Sally.
c What effect does the apportionment have on Sally's amount realized from the sale?
Sally paid none of the real property taxes and.
permitted to deduct the apportioned share of $
Her
amount realized is
; by this amount.
d How would the answers in parts b and c differ if Sally paid the taxes?
If Sally paid the taxes, Sally's amount realized would be $
Kate's adjusted basis would be $
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