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Deductions & credits
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. Can I add the POA fees (which funded neighborhood amenities buildout and property values) and taxes to my $100k basis?
March 29, 2023
8:44 AM