Claiming Repairs/Renovations for 2010 Tax Year (for Personal Return)?
I live in a Condominium shared with about 40 other units. Approximately 2 years ago, we found out there was a lot of work that needed to be done to keep everything sound. After quite a long time of the council researching contracters, getting detailed assessments done, etc. each unit was given a special assessment of approximately $15000. This was paid in Jan 2010.
Our council recently issued letters stating the nature of the assessment and the exact dollar amount of how much we paid; several owners had requested this for "tax purposes." Obviously with this being such a large sum of money, it would be fantastic to use some or all of it in my tax summary. I remember hearing about a renovation credit for 2009 tax year, but I'm not sure if there is something like that for 2010.
Not know too much about the process, I would love to get some guidance/advice.
Thanks
Our council recently issued letters stating the nature of the assessment and the exact dollar amount of how much we paid; several owners had requested this for "tax purposes." Obviously with this being such a large sum of money, it would be fantastic to use some or all of it in my tax summary. I remember hearing about a renovation credit for 2009 tax year, but I'm not sure if there is something like that for 2010.
Not know too much about the process, I would love to get some guidance/advice.
Thanks