- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Unfortunately, you can't take a deduction for these expenses if they're assessed on your personal property.
Charges for improvements that tend to increase the value of your property can't be deducted on your return. Please see the IRS's "2019 Instructions for Schedule A" for more information.
However, you should keep your records of any such assessments for as long as you own your condo. These expenses will affect the cost basis if you sell it in the future.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 25, 2020
8:23 AM
1,850 Views