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TAX DEDUCTIONS QUESTION. Are special assessments tax deductible?
ANSWER. It depends. If your condo/townhouse/house is a rental property,
i.e., you own it but have a tenant in the unit, then the special assessment
may qualify as a tax-deductible expense. If the unit is your residence, then
special assessments are generally considered non-deductible. In either
event, you should consult a tax advisor.
Updated 8/9/2008 | |
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