How to determine unadjusted basis & what is included in maintenance expenses on rental property

[ChuckandMarlo]

Am I understanding correctly that the unadjusted basis of my condo that I am renting out, is the rent collected for the year/lease period?  Also in determining cost of all repairs, maintenance and improvements, do Homeowners Dues count as part of this (under maintenance)?

[MichaelL1 · Accepted solution]

Original basis (unadjusted basis) is simply what you paid  for the building (not the land).  

Adjustments are then made to the original basis for improvements, depreciation, etc.

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Homeowner Dues:

I list them under Management Fees as the dues I pay, while some are for repairs, maintenance, trash, water, they managing the place and collect the dues each month.   

They can be listed a number of areas, however be consistent and list them under same area, year to year, and this will help you compare years to each other so nothing is overlooked.