Can I deduct club membership fees when purchasing a vacation home?
I bought a vacation home in a gated community which requires you to pay an initial membership fee. is this deductible and where do i put this on the tax return
Can I deduct club membership fees when purchasing a vacation home?
Unfortunately, that fee is not deductible. The only items you can deduct are real estate taxes, and possibly mortgage interest (if the property is secured by a mortgage) if it qualifies as a second home.
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