I live in a condominium and I pay about $220 monthly for dues to the homeowner’s association. The association is completely independent and represents the 115 units on the property. The dues also cover the water, sewer and garbage services in addition to landscaping, exterior maintenance, etc.
Can I deduct my association dues for the year?
Thanks!
Posted in Renting & Real Estate
No – not tax deductible at all. You wouldn’t deduct what you spend on lawn or pool service – this is the same thing.
That’s not deductible if it’s for your principal residence or a second (or third, etc.) home.
If it’s for a rental property then it is deductible on Schedule E along with the other reasonable and necessary rental expenses.
No. Its a bummer. I have it too. If you have a mortgage and paying PMI it is deductible this year.