topic Are HOA fees paid on a rental property tax deductible? in Investors & landlords

Are HOA fees paid on a rental property tax deductible?

superpatsfan1 — Sat, 01 Jun 2019 04:48:18 GMT

Yes. Deduct as a common business expense for your rental....

PaulaM — Sat, 01 Jun 2019 04:48:22 GMT

Yes. Deduct as a common business expense for your rental. HOA fees on personal residence - not deductible.

See attachment.

Re: Yes. Deduct as a common business expense for your rental....

steve50 — Sat, 25 Jan 2020 15:02:02 GMT

@PaulaM Could you respond with the attachment? I'm trying to find out exactly where to add this.

Thanks,

Steve

Re: Yes. Deduct as a common business expense for your rental....

ColeenD3 — Mon, 27 Jan 2020 15:16:46 GMT

@steve50

The reference for deducting it from Rental Property can be found in Pub 527, however here is a quick link Rental Expenses.

In terms of your personal home, expenses that are deductible include mortage interest and property taxes. Schedule A

Re: Yes. Deduct as a common business expense for your rental....

ardonohue — Sat, 06 Feb 2021 21:23:07 GMT

I reside in a Mobile Home park, reserved for senior citizens, governed by a HOA board. Each homeowner therefore owns a portion of the total property. We (may still) have a mortgage on the mobile home and (depending on its age) pay property tax to the County. These being tax deductible items. As members of the Association, are we not also entitled to claim a pro rata share of the taxes our association pays for property and mortgage interest?

Re: Yes. Deduct as a common business expense for your rental....

JeffreyR77 — Sun, 07 Feb 2021 20:57:01 GMT

It depends.

Each Home Owner's Association has its own ordinances and regulations that residents agree to and abide by.

If you own your mobile home and are the mortgage holder, then the HOA shouldn't be involved in making mortgage payments and you are entitled to claiming 100% of the mortgage interest associated with your home.

Property tax may be an allocated expense that is a part of your HOA fees.

Your question is best directed to your HOA on what is your home's amount of property tax.

The standard deduction for your filing status may be more advantageous for you than itemizing your deduction to claim your mortgage interest and property tax.

2020 Standard Deduction Amounts