The buyer's basis of real property purchased will include any portion of the real estate taxes paid by the buyer that is attributable to the portion of the year the property was owned by the seller.

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Quizplus · Accepted Answer

This is true according to the IRS regulations. The buyer's basis will include any real estate taxes that were paid by the buyer for the portion of the year the property was owned by the seller. This is because real estate taxes are prorated based on the time the property was owned by the seller and the time it was owned by the buyer, and the buyer is responsible for paying taxes for the period of time they own the property.

The Buyer's Basis of Real Property Purchased Will Include Any