What is the qualified deductible real estate tax for a seller who paid $4,500 in taxes and sold the home on day 225 of the year?

To determine the qualified deductible real estate tax for the seller who paid $4,500 in taxes and sold the home on day 225 of the year, it is essential to understand how real estate taxes are prorated at the time of sale.

In general, property taxes are assessed annually, and when a property is sold, the seller is typically responsible for the taxes up until the date of sale. Since the seller sold the home on day 225 of the year, it is necessary to calculate the portion of the taxes corresponding to the time the seller owned the property during that year.

Assuming that the $4,500 real estate tax was for the entire year, we can compute the daily tax amount by dividing $4,500 by 365 days. This gives us a daily tax rate.

Next, to find out how many days the seller owned the property in that year, we consider that the seller owned the property for 224 days (up through day 224), leading to a prorated tax amount for those days. To calculate this, multiply the daily tax amount by 224 days.

Thus, the calculated prorated amount gives an appropriate real estate tax deduction for the seller when filing their tax return. The result of this calculation