Essay
In Piatt County, the real property tax year is the calendar year. The real property tax becomes a personal liability of the owner of real property on January 1 and is payable on July 1 in the real property tax year. On June 30 of this yea (assume it is not a leap year), Harry sells his house to Judy for $110,000 and on July 1, Judy pays the entire real estat tax of $4,380 for the current year ending December 31.
a. How much of the property taxes may Harry deduct?
b. How much of the property taxes may Judy deduct?
Correct Answer:
Verified
Correct Answer:
Verified
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