[quote=flu]BG, you really don’t like to be wrong do you?
Come on. You’re trying argue you are right despite the facts to the contrary and trying to pick a minute wording in every document that clearly indicates that Mello R is deductible and will be deductible until the forseeable future. You’re not an accountant (neither and I) but I’ve definitely have checked with many accountants who have also confirmed this…
“might” is a loosey goosey word. Hell, I *might* win the Powerball lottery….
I think you missed this statement from the IRS.. Let me bold and emphasize for you too…
However, § 1.164-4(b)(1) permits a deduction for assessments to provide local
benefits to the extent that the taxpayer can show they were imposed to repair, maintain,
or meet interest charges for such benefits.
Seriously, it’s ok to be wrong sometimes…We’re all wrong sometimes…[/quote]
I read your bolded statement for IRC § 1.164-4(b)(1).
How are you going to show the FTB that your MR levy was used to “repair, maintain, or meet interest charges” (to “repair” and “maintain” the land within your CFD)?
