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hgrine1
New Member

Are property management fees paid to a company for a rental property tax deductible? If so how much of the fees and expenses are deductible?

 
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3 Replies
PaulaM
Expert Alumni

Are property management fees paid to a company for a rental property tax deductible? If so how much of the fees and expenses are deductible?

Yes, you can deduct management fees for your rental. See below for examples of deductible expenses and items that may need to be capitalized.

https://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Real-Estate-Tax-and-Rental-Property/I...

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Are property management fees paid to a company for a rental property tax deductible? If so how much of the fees and expenses are deductible?

Which line/category do i put 1) Homeowner association dues and condo fees and 2) Property Management fee?

I'm thinking either line 11 Contract Labor or 17 Legal & Professional Services but I am not sure.

JotikaT2
Employee Tax Expert

Are property management fees paid to a company for a rental property tax deductible? If so how much of the fees and expenses are deductible?

It depends.

 

You can list the HOA dues and Condo Fees under Other expenses.

You can list the Property Management fees under Management Fees or Other expenses.

 

Just make sure you retain the support for the expenses you list on your return.

 

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