rental property expense

[theresa d]

taxpayer rents out a condo unit in florida. due to the hurricanes he was assessed $11514 in fee from condo association for capital improvements in the association. i'm thinking this should be depreciated even though it was not to his actual unit but to the common grounds. any thoughts appreciated.

[Bees Knees]

I'd call it a repair. Special assessments are deductible as repairs if they do not improve or increase the value of property, but rather, fix existing property without increasing its life.