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Can a special assessment be claimed against my rental income? If so, where is it applied? Can unclaimed portions be applied over future tax years?
I was assessed ~40k this year for roof repairs on our condo unit. On average I claim approximately 6K per year as revenue after expenses and property taxes. Using 6K as the example and provided that I am able to claim the special assessment, there would be 34K in the assessment that would be unclaimed. Can I apply the remaining balance against future tax years?
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‎October 29, 2019
9:13 PM