Condo fees are not deductible and they can't be used to deduct capital gains because it is not the state or the government that issues them it is the condo community.
http://www.irs.gov/pub/irs-pdf/p530.pdf (see page 3 column 1)
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Submitted 352 days ago...
Condo Fees and Assessment Fees
I am thinking about purchasing a condominium for personal use (summer home) and have the following questions:
1. Are condo fees tax deductible?
2. Are condo fees and/or special assessments allowed to reduce capital gains when you sell the property?
Thank you.
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Submitted 317 days ago...
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