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JH1058
February 12, 2025
Question

HOA Assesments

  • February 12, 2025
  • 1 reply
  • 0 views

Had a condo structural repair assessment that I claimed on 2023 tax return, sold condo in 2024 can I still claim this toward my cost basis in 2024?

    1 reply

    V
    Vanessa A
    February 12, 2025

    I am assuming this was due to a qualified major disaster or it was a rental property? 

     

    No.  If you already claimed a deduction for the cost of the structural repair assessment, you cannot claim it again as part of the cost basis of the home as this would basically be double dipping.  You can only claim or include an expense once. 

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