can i deduct the cost of a city-required sidewalk repair on my taxes?
IRS Publication 530 states: You must look at your real estate tax bill to decide if any nondeductible itemized charges, such as those listed above (I left this part out but it refers to services like water bills, trash collection, grass mowing), are included in the bill. If your taxing authority (or lender) does not furnish you a copy of your real estate tax bill, ask for it. Assessments for local benefits. You cannot deduct amounts you pay for local benefits that tend to increase the value of your property. Local benefits include the construction of streets, sidewalks, or water and sewer systems. You must add these amounts to the basis of your property. You can, however, deduct assessments (or taxes) for local benefits if they are for maintenance, repair, or interest charges related to those benefits. An example is a charge to repair an existing sidewalk and any interest included in that charge. If only a part of the assessment is for maintenance, repair, or interest charges, you must
IRS Publication 530 states: You must look at your real estate tax bill to decide if any nondeductible itemized charges, such as those listed above (I left this part out but it refers to services like water bills, trash collection, grass mowing), are included in the bill. If your taxing authority (or lender) does not furnish you a copy of your real estate tax bill, ask for it. Assessments for local benefits. You cannot deduct amounts you pay for local benefits that tend to increase the value of your property. Local benefits include the construction of streets, sidewalks, or water and sewer systems. You must add these amounts to the basis of your property. You can, however, deduct assessments (or taxes) for local benefits if they are for maintenance, repair, or interest charges related to those benefits. An example is a charge to repair an existing sidewalk and any interest included in that charge. If only a part of the assessment is for maintenance, repair, or interest charges, you must
