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.

posted

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Can we use form 140PTC in AZ to get the PT credit if we paid PT on our main home, sold it in March and then rented an apartment? We're over 65, lived in AZ all of 2024.

in Investors & landlords

Expert does your taxes

Do it yourself

Resources

Support

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?

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?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

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?

Do you have an Intuit account?

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?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert