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callahra
New Member

I have rental properties where I am required to pay a monthly club membership. Where do I account for that expense on my federal tax form?

Can I account for club membership as a landlord for a renter?
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2 Replies
Cynthiad66
Expert Alumni

I have rental properties where I am required to pay a monthly club membership. Where do I account for that expense on my federal tax form?

 

@callahra -Yes

 

You deduct this expense where you deduct your other rental expenses.  Schedule E or Schedule C as a "Other Deduction".  You can account for it as a landlord.  As a rental, it is not a personal expenditure and is tax deductible.

 

Generally, you claim expenses related to rental property on Schedule E and attach it to your individual income tax return. However, if you own the condo via a corporation, then you would fill out an IRS Form 1120 or 1120 S, which are tax returns for C corporations and S corporations, respectively.

 

Follow these steps to enter Rental Income and Expenses:

 

To go directly to the section of the tax return to enter information about rental income and expenses, use these steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
  • This opens a box where you can type in “rental income and expenses” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to rental income and expenses
  • Click on the blue “Jump to rental income and expenses” link and enter your information
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Carl
Level 15

I have rental properties where I am required to pay a monthly club membership. Where do I account for that expense on my federal tax form?

Sounds to me like HOA dues, more so than a "club membership".  Just work through the rental expenses section and the VERY LAST SCREEN in that section will ask your for miscellaneous expenses. You can enter it there. But don't label it "club membership" if it's a requirement or condition of ownership. I'd call it HOA Dues, as that's most likely what it is.

 

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