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Deductions & credits
Of the items you listed, only the property taxes paid in 2019 are a deduction. You can deduct that as an itemized deduction, along with the property taxes paid on your home. It will be part of itemized deductions, so it may not change your taxes.
Your total itemized deduction must be more than your standard deduction, or it will not reduce your taxes.
Homeowners Association fees are not deductible, unless it is a rental activity.
Any assessments that you paid while you owned the property increase your basis in the property.
When you sell real estate, you report the sale and the difference between your basis and the selling price is a gain or loss.
The starting point for basis is the amount that you paid for the property. To that you can add closing costs, unless they were otherwise deducted; assessments that increase the value of the property; and the cost of selling the property.
Click here for more information about basis.
If you want to make a IRC Sec 266 election, you can add your property taxes to your basis, instead of deducting them. This is an annual election, so if you add the election to your 2019 tax return, you can add the 2019 property taxes to your basis.
Learn more about this election.
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