Where can I find out more about Florida Condo Associations and exemption from taxes? As well, how can I file for a refund for my condo association?
I live in a 32 unit bldg; it is 30 years old. Due to termites, all the common area surfaces were replaced, including decks, railings, etc; the siding was replaced with Hardee board type material. After the work was finished, we were "special assessed" about $30K. I would like to know if I can claim it on my taxes - either state and/or federal. And if so, how do I do it? I live in California.
I would like to know something about tax benefits if I fix up at least one of my condos to rent out. I have two, and probably will keep one condo , but the other I'd like to sell or rent. So what are the rules regarding how or when I should fix up the place for maximum tax benefit? Thanks... I don't need a particularly detailed answer because I know it may be complicated, a brief outline will help. Or perhaps point me in the right direction on the web for details. Thanks again. Cindi