Are HOA fees and special assessments deductible on a second home?

Bill11 — Sat, 01 Jun 2019 20:17:50 GMT

Unfortunately, homeowners’ association (HOA) fees paid on...

AlanT — Sat, 01 Jun 2019 20:17:52 GMT

Unfortunately, homeowners’ association (HOA) fees paid on your personal residence are not deductible.

However, if you have an office in your home that you use in connection with a trade or business then you may be able to deduct a portion of the HOA fees that relate to that office.

If the home is a rental property then you can deduct the HOA fees as a rental expense.

Assessments are also not deductible. They are capital expenditures that would increase the basis in your home which could offset gains when you sell down the road.

topic Are HOA fees and special assessments deductible on a second home? in Deductions & credits

Are HOA fees and special assessments deductible on a second home?

Unfortunately, homeowners’ association (HOA) fees paid on...