Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Aug 2017 My Price 4.00

real estate taxes

16.   LO.3 Tabitha sells real estate on March 2 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. Assume that this is not a leap year.

a.      Determine the real estate taxes apportioned to and deductible by the seller, Tabitha, and the amount of taxes deductible by Ramona.

b.     Calculate Ramona’s basis in the property and the amount realized by Tabitha from the sale.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Aug 2017 08:08 PM My Price 4.00

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