I bought a lot in a highly-promoted new, planned coastal community. Held unused for "appreciation" for 20 years. I paid $2k annually in POA fees (property owners assoc) and $300.00 annually in property taxes. Just sold for only $20K. Net: -$80k cash loss. But, can I add the POA fees (funded neighborhood amenities buildout and property values) and annual property taxes to my $100k basis?
