Hi, decided to remove my toilet bowl bolt caps to clean the base better and to my surprise I found about a tablespoon of water under one of them. Both bolts and nuts were very rusty but having water spill out from underneath one of them concerns me. Could this just be from condensation or is it likely I have a leak? Thanks in advance for your help.

I would expect a leak to be visible under the base unless it is totally caulked in. If the base is fully caulked, the only way water would rise is from a leaking wax ring that allows some water out. However, I have never seen water trapped in a cap, since the fitting is usually loose enough for any water to run out.

I'm guessing it got in there during routine cleaning.. and the cap kept it from evaporating.

You can prove that by blotting up all the water with paper towels... leave the caps off for a week.. and look and see if the water is back or not.

Agree, toilets can leak but not there.