Even though the seller of real property pays the real estate taxes for the entire year, the buyer will be allowed to deduct his or her share of these property taxes.

Question

Quizplus · Accepted Answer

This is true. The buyer will be able to deduct his or her share of the property taxes in the year of purchase, even if the seller paid the taxes for the entire year. The buyer's share will typically be prorated based on the number of days each party owned the property during the tax year.

Even Though the Seller of Real Property Pays the Real