Thinking of selling our rental property and owe assessment. Can we write off the assessment as part of the sale?

How will the assessment impact our taxes?

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Thinking of selling our rental property and owe assessment. Can we write off the assessment as part of the sale?

Add it to your basis

Thinking of selling our rental property and owe assessment. Can we write off the assessment as part of the sale?

@csigarta so by adding to your cost basis, it will reduce the gain, so in a way, it is indeed a 'write-off'.

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