hlthompso
Returning Member

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?