Structurally, surface rust is not a problem, and depending on the metal's thickness and alloy composition, a level of passivation may be reached. Regardless, it's best to correct surface rust as soon as you see it. The fix is not unlike general paint repair. Start by using an abrasive wheel or sandpaper [2] to cut through the paint and corrosion until clean, bright metal is visible. Next, apply primer, followed by paint [3] , then clear coat. Buff to blend the finishes [4] .
Rating Newest Oldest. Best Answer: Nope, sorry condo assessment fees and special assessments are not tax deducible. Keep track of the special assessments, though, because you could add that to your cost basis when you get ready to sell the condo. If you rented out a condo that you owned, then you could deduct all the assessment fees.
Term of Depreciation. You can depreciate the cost of the condo building itself over 27.5 years, equal to 3.64 percent of the cost of the unit per year. Be sure to take depreciation each tax year.If you sell the condo, the IRS puts depreciation back into the cost basis of the property whether you exercised this tax break or not.erm of Depreciation. You can depreciate the cost of the condo building itself over 27.5 years, equal to 3.64 percent of the cost of the unit per year. Be sure to take depreciation each tax year.