HOA Fees on a Condo

conandrob240

are HOA fees typically deductible in whole or part? Mine do not include property taxes. And in 2017 it was a second home but not a rental.


TIA


new207040

not deductible at all as primary or second home..............


cramer

Not deductible.


conandrob240

Well, mortgage interest and taxes are so that’s why I was wondering. I guess it’s different with a co-op because those Maine fees include property taxes?


new207040 said:

not deductible at all as primary or second home..............



nakaille

You might not want to count too heavily on mortgage interest and tax deductions under the current trumpery that passes for a tax code.


conandrob240

I understand. I’m not looking at 2018 but filing right now for 2017 so it counts.


The property switches to “rental” for 2018 so I think those are still deductions in the form of “expenses” but we’ll see.



peteglider

On a co-op your fee pays the mortage on the so to speak common area, and taxes, so a portion is deductible.  

Not the model on a condo.

/p


conandrob240

got it! Thanks for the detail!


kthnry

Are you sure you can't "put it into service" (tax-talk for when a property becomes a rental) in 2017? It might be beneficial.


conandrob240

well, I didn't rent it in 2017 so not sure




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