The previous advice given by Opus17 still holds true for a 2022 tax return.
If your condo is your primary residence and not a rental property, then the amount you had to pay for the special assessment is not deductible on your tax return. Keep the information for your records and add it to the basis of your property when or if you sell it in the future.
If you are renting the condo or renting a portion of the condo, then you would depreciate the assessment as an improvement to the property over 27.5 years, adjusted by the percent of business usage.
@jackiegangi
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
