Are there any tax deductions available for homeowners association dues?

Asked over 2 years ago - Sioux Falls, SD

Our new house is part of an HOA, and I'm just wondering if there are any kind of tax deductions available for this?


.

Attorney answers (3)

  1. Matthew Jason Staub

    Contributor Level 12

    2

    Lawyers agree

    Answered . The IRS provides that you cannot deduct homeowners association assessments because the homeowners association imposes them, not the State.

    Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this... more
  2. E. Martin Davidoff

    Pro

    Contributor Level 15

    2

    Lawyers agree

    Answered . You cannot deduct HOA dues for your personal residence. However, you can deduct it if the real estate is rented or used for business purposes. If this is the case, consult with a good tax preparer (i.e. a CPA).

    Good luck.

    Marty

    Marty Davidoff, emd@taxattorneycpa.com, 732-274-1600. This answer is provided for general information only. You... more
  3. Christopher Michael Larson

    Contributor Level 19

    1

    Lawyer agrees

    Answered . As the previous attorneys mentioned, these are personal in nature and are not taxes. If it were a rental, they could be business expenses.

    Christopher Larson
    www.insightlawfirm.com
    www.insightlawfirm.wordpress.com

Related Topics

HOA fees

HOA fees are money that owners must pay to the HOA, often monthly or quarterly, to pay for things like maintaining/improving common areas, like a pool or lobby.

Barbara Billiot Stage

HOA Foreclosures

What you need to know in order to keep your home. No Defenses Florida law guaranteeing the rights of associations to receive assessments is very powerful and favors the associations. There... more

Real estate

The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

26,805 answers this week

3,094 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

26,805 answers this week

3,094 attorneys answering