Please forward this error screen to 67. Many homes are subject to homeowner’what investment fees are tax deductible association fees. These fees pay for the shared amenities in a housing development or condominium property. Are Homeowners Association Fees Tax Deductible?
Are Condominium Homeowner’s Dues Tax Deductible? Can Condo HOA Fees Be Used as a Capital Loss? Can You Deduct HOA Fees When Purchasing a Home? While they typically fall somewhere in the mid-hundreds of dollars per month, they can also be under a hundred dollars, or even run into thousands of dollars per month. HOA fees are typically not 100 percent deductible, but you may still be able to claim some portion of them as a writeoff.
Some provide landscaping, pool maintenance and maintenance of the exterior of buildings. Others, especially in condominium projects, may provide some utility services like garbage, water or even cable television. Any portion of your HOA dues that go to something that you could deduct if you paid it yourself is tax deductible. For example, if your HOA technically owns the land surrounding the buildings in your development, the HOA would be responsible for paying the property taxes on that land. You could then deduct the portion of your HOA dues that correspond to the property taxes along with the deduction that you claim on the property taxes that you pay for your unit or home.