Special assessment of $35,000 over the past several years to repair siding, windows and roofs due to bad construction. I rent out my unit -- is the assessment added to the basis of my unit and depreciated or does the condo association (which owns the outside of the buildings) depreciate the outside of the buildings???

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You paid for it so you get to depreciate it.

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This question is so much larger than yuo can even imagine.

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>>repair siding, windows and roofs <<

If for work already completed, deduct repair costs in the year paid, If assessed as a reserve, deduct when the work is paid for in the future.

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In the real world, the condo association tells us that they need the special assessment to pay for capital improvements and then they will totally commingle the money they collect with the "general operating fund" and at the end of the year they'll show maybe 20% of the capital things that they talked about have been done, and there's no money left in the bank.

They used most of the special assessment money to cover operating deficits, and there's never an adequate accounting that would let the owners capitalize the right amount. The "special assessment" is a coverup for their absolutely lousy budgeting, and then the books are miserable, too and I know not to trust them.

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