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February 12, 2021
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Deduction HOA fees

  • February 12, 2021
  • 1 reply
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Can I deduct the HOA fees I paid each year now that the property has been sold?

    Best answer by RayW7

    Unfortunately, homeowners' association (HOA) fees paid on your personal residence are not deductible

    .

    However, if you have an office in your home that you use in connection with a trade or business then you may be able to deduct a portion of the HOA fees that relate to that office.

     

    If the home is a rental property then you can deduct the HOA fees as a rental expense.

     

    TurboTax will help you determine the correct deduction.

    1 reply

    RayW7
    RayW7Answer
    February 12, 2021

    Unfortunately, homeowners' association (HOA) fees paid on your personal residence are not deductible

    .

    However, if you have an office in your home that you use in connection with a trade or business then you may be able to deduct a portion of the HOA fees that relate to that office.

     

    If the home is a rental property then you can deduct the HOA fees as a rental expense.

     

    TurboTax will help you determine the correct deduction.