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Investors & landlords
We sold our rental condo Nov. 2019 and had to pay an HOA Special Assessment of ~$33,000 at closing (all condo owners were assessed the same amount). The renovation encompassed 3 water systems that serve the building:
1. Hot and cold domestic water pipes
2. Sewer and waste pipes
3. Heating and air-conditioning (HVAC) pipes
Can we expense the $33K?
‎January 1, 2021
1:12 PM