I'm considering a condo in the state of Montana.
2007-07-12 19:10:16 · 4 answers · asked by Paradox 3 in Business & Finance ➔ Taxes ➔ United States
These dues are personal in the nature and, thus, not deductible. They will become deductible only when they are necessary and connected to the production of income(i.e, if you rent your condo and collect fair rental market value). I would advise you though to familiarize yourself with the list of what's included in dues. Sometimes some components could be tax deductible(such as mortgage interest, property taxes, taxes based on value of the condo).
2007-07-13 03:29:08 · answer #1 · answered by alikmal 2 · 0⤊ 0⤋
As a condo owner, I can unequivocally has that monthly dues paid the HOA are not deductible.
2007-07-13 01:56:06 · answer #2 · answered by Wayne Z 7 · 1⤊ 0⤋
that may not deductible if that is to your correct place of abode or a 2d (or 0.33, etc.) domicile. If that is for a condominium property then it truly is deductible on schedule E alongside with the different sensible and mandatory condominium costs.
2016-10-21 02:34:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, only if you rented out the condo.
2007-07-12 19:13:08 · answer #4 · answered by Buzzy 6 · 2⤊ 0⤋