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March 28, 2024
Question

Condo Special Assessment Interest deductible?

  • March 28, 2024
  • 1 reply
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My condo had a $17,000 assessment back in 2018 for new siding and roofs. The association financed the assessments and unit owners that did not pay it off immediately pay monthly on that unit owner's individual portion of that loan.  Can I deduct the interest I pay on that assessment?

1 reply

March 28, 2024

No. That is a personal expense.