I own a rental condo. The HOA charged owners $14,000 in 2022 as a first payment on a special assessment for improvements -- cement siding, new windows and doors. We will be assessed close to $6000 in 2023 and for several more years to pay off the same project. On reviewing several similar posts, I assume I need to depreciate vs deduct, but am having difficulty figuring out exactly where and how to enter in TT. Do I "Add an Asset" and describe as "siding/windows/doors" and then as "Rental Real Estate Property" and then as "Residential Rental Real Estate"?
OR is a Section 179 deduction available and preferable?
Thank you very much for any guidance.
