Victor sold his personal residence to Colleen and paid real estate taxes of $9,450 for the year,$3,250 of which was apportioned to Colleen based on the period she owned the property during the year.What are the income tax consequences to each party?

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The Answer of Victor sold his personal residence to Colleen and paid real estate taxes of $9,450 for the year,$3,250 of which was apportioned to Colleen based on the period she owned the property during the year.What are the income tax consequences to each party?

Victor Sold His Personal Residence to Colleen and Paid Real