Client purchased a commercial real estate property. At closing, he received a credit for property taxes unpaid by the seller. The Master Statement from closing shows debit $7318.32 for the seller and credit  $7318.32 for the buyer. Usually, when the buyer pays property taxes after closing, I reduce the buyers expenses by the amount of the credit. This time no taxes were paid. Is this property tax credit an income for the buyer or is it a reduction to basis of the property?