The special assessment was paid in monthly installments from January-July in 2018. The final installment was paid on July 22 and the rental property was sold on July 27. The total amount was $630. You cannot depreciate anything that's been held for less than one year, so can you claim it as an expense?
Thank you.
You'll need to sign in or create an account to connect with an expert.
Yes, you can expense it. If it was assessed as part of property tax, enter it under tax, if it was for payments tot the HOA, enter it under HOA fees or payments, along with regular HOA fees.
Yes, you can expense it. If it was assessed as part of property tax, enter it under tax, if it was for payments tot the HOA, enter it under HOA fees or payments, along with regular HOA fees.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
brennychristine
New Member
feliped
New Member
strobelwilliam3
New Member
KarenL
Employee Tax Expert
mrmartin7
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.