Home Repairs : Any tax advantages?

[Kamran Rahman]

I closed on a sub-ground condo less than a month ago. Last week I found a damp area in one of the bedroom closets. I’m anticipating that it may be due to a crack in the complex’s foundation, since it is localized to a single area, and is adjacent to the foundation. 

I’m planning for the worst case scenario expense wise, so I wanted to see if anyone has been able to find ways to write off these sorts of repairs for their owner-occupied units?

[Dave Toelkes]

Typically, the exterior structural wall is a common element owned by the condominium association.  If you have an issue with the foundation or an exterior structural component of your unit, notify your asssociation manager immediately and ask them to repair.

If the association determines that the issue you report is not their responsibility, then any cost to repair your primary residence would be a personal, non-deductible expense