Our new house is part of an HOA, and I'm just wondering if there are any kind of tax deductions available for this?
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 communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein. Attorney-Client Relationship Disclaimer: This email does not create an attorney-client relationship between sender and any receiver.
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).
Marty Davidoff, email@example.com, 732-274-1600. This answer is provided for general information only. You should seek advice from an attorney or tax professional.