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Can owners deduct monthly condo fees for income tax purposes?

Posted on Wed, Jan 26, 2011 @ 01:59 PM

Can owners deduct the monthly condo association or HOA fees when you file your income taxes each year??



Typically condo fees are not deductible for the homeowner because fees usually are for maintenance of common areas. If you rent the property you can deduct condo fees or if the fees contact a property tax component you can also deduct that portion that represents property taxes.

posted @ Wednesday, January 26, 2011 2:21 PM by Albert Sullivan, CPA

This is from the IRS Gov site. 
(Homeowners association assessments. You cannot deduct these assessments because the homeowners association, rather than a state or local government, imposes them.) 

posted @ Wednesday, January 26, 2011 2:23 PM by Victor

One cannot deduct any condo fees. What we did in our condo group since we have a private street, created a Tax District which is a perfectly ok tax deductible as we are paying although once to the town and to the district both deductible

posted @ Wednesday, January 26, 2011 3:19 PM by bob gross

Please elaborate on deducting condo fees on a rental property. Can the entire monthly fee be deducted or must the reserve fund contribution be excluded as per CRA bulletin IT-304?

posted @ Monday, November 26, 2012 5:14 PM by Deborah

Thanks for the info. This is exactly what I was looking for. I am currently researching this topic so I will be back.

posted @ Friday, August 08, 2014 2:16 PM by PIC Scheme

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