# Solved > 54. On April 1, 2018, Paul sold a:2125541 …

54. On April 1, 2018, Paul sold a house to Amy. The property tax on the house, which is based on a calendar year, was due September 1, 2018. Amy paid the full amount of property tax of \$2,500. Calculate both Paul’s and Amy’s allowable deductions for the property tax. Assume a 365-day year.

55. In 2017, Tomas, a single taxpayer, had \$ \$3,750 in state tax withheld from his paycheck. He properly deducted that amount on his 2017 tax return as an itemized deduction that he qualified for, thus reducing his tax liability. After filing his 2017 tax return, Tomas discovered that he had overpaid his state tax by \$417. He received his refund in July 2018. What must Tomas do with the \$417 refund? Explain your answer.

56. Steve purchased a personal residence from Adam. To sell the residence, Adam agreed to pay \$4,500 in points related to Steve’s mortgage. Discuss the tax consequences from the perspective of both Steve and Adam.

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