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posted Mar 27, 2023 4:24:36 PM

I sold a condo with a HOA pending assessment which I had to give the buyer in the Settlement Statement, can I add this to my sales expenses since it is not HOA dues?

The assessment was for building repairs.

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1 Replies
Expert Alumni
Mar 27, 2023 4:49:19 PM

Yes, you should either add to your cost basis or sales expenses (reduction of proceeds).  It reduces the amount of any gain (or increases the loss) you have on the sale condo.