Diego sold his personal residence to dinah on july 1 2011

Reference no: EM13597293

Diego sold his personal residence to Dinah on July 1, 2011. He had paid real property taxes on March 1, 2011, the due date for property taxes for 2011.

a) How will Diego's payment affect his deduction for property taxes in 2011?

b) Will Diego's payment of the taxes have any effect on Dinah's itemized deductions for 2011?

c) What other tax or financial effects will Diego's payments of the taxes have on either party?

Reference no: EM13597293

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