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Updated 3 months ago on .

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11
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0
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Andrew Great
  • North Miami Beach, FL
0
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11
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Reporting taxes and seeking a tax professional for a settlement related to condo

Andrew Great
  • North Miami Beach, FL
Posted

I have a condominium that is unused due to disrepair, which needs to be addressed by the association.

Due to their inaction, a lawsuit was filed, and I received a settlement for the dwelling repairs and lost income.

I cannot proceed with the dwelling repairs as the building is not repaired yet. In the meantime, I have to pay taxes and would like to know how to report it and see if I can avoid taxes as I will need to put money into the dwelling repairs.

Also, if you can recommend a tax professional who specializes in rental/settlement cases in Florida, I would appreciate it.

Thank you in advance.