A taxpayer who purchases real property during the year is allowed to deduct the property taxes on that property for the entire year.The deduction is based on proportion of the year the taxpayer lived in the home no matter who actually pays the tax.

Question

Quizplus · Accepted Answer

The taxpayer can only deduct property taxes for the portion of the year they actually owned the property, not for the entire year.

A Taxpayer Who Purchases Real Property During the Year Is