I agree with your assessment regarding using Schedule A, I have also been advised to use Schedule E because this was a rental activity.Let me give an example of...
When the rental property was sold the assessed valuation had increased 60%. Money was put in escrow to cover the additional taxes. This money was accounted for ...
I also gave the buyer an additional credit to be held in escrow for real estate taxes in the event that the initial credit was not sufficient to cover the entir...
