Florida Special Assesstment

[jgreeley3]

Can I use a Florida Special Assessment on my condo as an expense in my Federal taxes?

Thanks.

[DoninGA]

A Special Assessment is a levy on property owners to pay for a special service of local infrastructure projects such as the maintenance of roadways or stormwater infrastructure, stormwater retention, or streetlights, etc.

This type of expense on a personal residential property, not used as a rental or in a business, is not reported on a federal tax return.

[jgreeley3]

My Florida condo is a rental income property. I rent it out every month of the year.   I don't live there.

Can I deduct the Florida Special Assessment (714 ruling) on this property on my Fed taxes?

regards,

Joe G.

[DoninGA]

@jgreeley3 Since the property is a rental then you can enter the Special Assessment as a expense on Schedule E.  Probably should use Miscellaneous Expense.

[jgreeley3]

Thank You.