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March 1, 2021
Question

I paid assessment fees (co-op) for four months in 2020. Are those considered tax credits or deductions?

  • March 1, 2021
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1 reply

March 1, 2021

No, fees assessed by your co-op do not qualify for tax credits, nor are they deductible.  If the assessments were for capital improvements, they will increase the cost basis of your property.  

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