My condo has a serious construction problem and we can no longer go after the builder (10 year time limit per state law, they built it 25 years ago). So all condo owners in the building have to pay a special assessment. Is there anyway of deducting this? I am not getting a 2nd mortgage, homeowner's loan, or anything like that, I am taking a loan from my Federal 401K plan. The loan itself/the interest is not deductible, I'm wondering if the emergency repair bill itself is.
2006-08-06
07:10:07
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4 answers
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asked by
Rossonero NorCal SFECU
7
in
United States