The property was purchased on 03/19/18. The buyer received a credit for the second installment of 2017 taxes and for 78 days of 2018. Usually the buyer would pay the taxes for the second installment of 2017 around August or September of 2018. After closing, the County Assessor's Office reduced taxes on this property so there is no liability until 2019 and the amount due in 2019 will be much smaller than the credit.  Should I show this property tax credit as liability as of 12/31/18 and just reduce this liability when taxes are paid in 2019? The buyer is a corporation.