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dip5
October 10, 2021
Solved

I do ST rentals w/home. My HOA has been fining me bcuz they claim it's prohibited. I haven't paid them but they are accruing and liens have been filed. legit expenses?

  • October 10, 2021
  • 1 reply
  • 0 views
would it matter if they'd been paid? a lawsuit is pending - if I deduct fines now and then win I assume I'd have to pay taxes on the income then, yes?
Best answer by M-MTax

Sec. 1.162-21 covers this and you can't deduct fines imposed by a nongovernmental entity performing an essential governmental function.

1 reply

M-MTax
M-MTaxAnswer
October 10, 2021

Sec. 1.162-21 covers this and you can't deduct fines imposed by a nongovernmental entity performing an essential governmental function.

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