Which of the following statements about condominium ownership is true?
A)A condominium owner becomes a joint tenant with other unit owners in shared facilities.
B)A condominium owner is not responsible for property taxes on her individual unit.
C)A condominium owner generally cannot sell her unit without the other unit owners' approval.
D)A condominium owner is treated as if she owned a single-family home for federal income tax purposes.

Question

Quizplus · Accepted Answer

For federal income tax purposes,the condominium owner is treated as if she owned a single-family home and is thus allowed to deduct her property taxes and mortgage interest expenses.

Which of the Following Statements About Condominium Ownership Is True