Looking for advice how to proceed.
Bought rental property in 2017 and tax was <$2000 yearly for 2017, 2018, 2019.
In 2020 City reassessed each of those years and sent us tax bills for each of these years for >$20,000 for a total of just under $90,000 taxes due (2017, 2018, 2019 and 2020) We paid those fees in 2020 promptly when City Tax bill received.
I suspect that filing the return will likely prompt the IRS or my State to question the accuracy of the deduction on the Schedule E. If they send a letter for more information that will be easy, but if this prompts AUDIT of the entire return than the amount of work required of me could be quite a substantial time drag.
I mailed in my 2019 in October 2020 and received my refund check yesterday, 50 weeks later. So I am concerned about mailing in my 2020 returns with an explanation. Unfortunately I can't e-file and put in an explanation (to the best of my knowledge.)
Any feedback is welcome regarding best method to proceed.
