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Sally owns real property for which the annual property taxes are 8,000. She sells the property to Shelley on February 28,2013, for 550,000. Shelley pays the real property taxes for the entire year.

a) What effect does the property tax apportionment have on Shelleys adjusted basis in the property?

b) What effect does the apportionment have on Sallys amount realized from the sale?

c) How would the answers above change if the taxers were paid by Sally?

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