PK84
New Member

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?