Florida Special Assesstment

Forum|Forum|1 year ago
November 23, 2024
1 reply
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Can I use a Florida Special Assessment on my condo as an expense in my Federal taxes?

Thanks.

Not A Product Question

DoninGA

Employee

A Special Assessment is a levy on property owners to pay for a special service of local infrastructure projects such as the maintenance of roadways or stormwater infrastructure, stormwater retention, or streetlights, etc.

This type of expense on a personal residential property, not used as a rental or in a business, is not reported on a federal tax return.

jgreeley3Author

My Florida condo is a rental income property. I rent it out every month of the year. I don't live there.

Can I deduct the Florida Special Assessment (714 ruling) on this property on my Fed taxes?

regards,

Joe G.

DoninGA

Employee

@jgreeley3 Since the property is a rental then you can enter the Special Assessment as a expense on Schedule E. Probably should use Miscellaneous Expense.