Are HOA Fees or HOA Dues tax deductable

by | Jan 4, 2022

Are HOA Fees or Dues tax deductible?

According to HR Block, HOA Fees are tax deductible when they become a business expense, like other expenses for maintaining your rental property.

TL;DR:

  • Yes – Rentals
  • No – Primary residences

There may be other times when your HOA dues may be tax deductible, or perhaps a portion of them. If you rent out your garage, a small part of your home to a home office, or other small rentals you may be able to deduct a percentage of your HOA dues in proportion to your rented space.

That said, it’s always best to work with a Certified Public Accountant or other tax professional to ensure you’re receiving the maximum and correct deductions!

It’s also recommended that you keep outstanding records. Classify your accounts, keeps up on record keeping, and make sure you can account for every dollar on your rental properties. This will go a long way come tax time!

 

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Written By Erich Schwenk

Erich Schwenk is the Designated Managing Broker for the The Pineapple Brand Company. He has a passion for hospitality and created a real estate, property & association management firm around high levels of customer service, communication, transparency, and above all - trust. Before launching The Pineapple Brand Company, Erich served 20+ years as a Flight Attendant. He has a background in web development, videography, photography, and digital marketing. Bringing years of service, knowledge and these skills to real estate and its digital marketplace. He aims to help real estate brokers and their clients capitalize on their investments and reach financial independence and security.

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