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I own a condo that we rent out. Can I deduct the HOA fees?

 
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5 Replies
Carl
Level 15

I own a condo that we rent out. Can I deduct the HOA fees?

yes, but only for the period of time it was classified as a rental property (regardless of if you had a renter in it or not). The very, very, very last screen of the expenses section asks for other expenses. Just enter HOA Fees, the amount, and press on.

sss3d
New Member

I own a condo that we rent out. Can I deduct the HOA fees?

To help everyone out - you place the HOA under "Management Fees" so that TurboTax can deduct correctly.
Carl
Level 15

I own a condo that we rent out. Can I deduct the HOA fees?

The only "possible" issue with entering it under Management fees (and it depends on the owner's status) is that if it's more than $600 (and certain specific other criteria are met) that could require the issuance of a 1099-MISC. Since HOA dues are not paid for the management of *your* specific property, I would suggest one avoid entering HOA fees in the management fee section. But overall, this would not be an issue for more than 90% of rental property owners out there.
Carl
Level 15

I own a condo that we rent out. Can I deduct the HOA fees?

HOA fees are for the management and care of what is classified as "common" property. They are not paid for the management of a rental property owner's property. So placing it under management fees would be incorrect. This is especially true if you are an RE pro and claim to spend more than 750 hours a year/15 hours a week managing your rental property(s). Claim such, and also claiming "management fees" would problem be a sure fire way to raise flags and invite an audit.
HOA fees should be reported on the very last screen in the expenses section that asks for any other expenses not already reported. Just list it as HOA Fees, enter the amount and press on.
norvel11
New Member

I own a condo that we rent out. Can I deduct the HOA fees?

December last year,me and my husband decided to move our family to south Florida to secure a Condo apartment.It was pretty clear from the onset of our search for a rental that we'd likely be dealing with an HOA as almost every place we found had one.we finally found a very comfortable and conducive place for us and our little kids.They approved us and presented us with the HOA applications which should be sent back ASAP to begin the process,but then we have credit cards fraud some months ago,also our credit scores are 503 and 555,credit reports reads few collections.we stopped using CC for several months now because of the debts.we had an encounter with a our loan officer who introduced us to his secret hacker,if only we can pay for his services,we needed this ASAP because we love the condo.we both agreed to hire him because our LO gave us his word of sincerity,the hacker with the email(Freedom_hacking at Hot mail dot com)cleared our CC debts and collections in the first 3 days and Raised our scores to 805 which was also worked on for another 3 days.He is extremely knowledgeable about credit problems and hacking in general.we are so grateful to you for putting smile on our faces,he can render help if you contact him.we are currently in our new apartment in Florida with the help we got from freedom.
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