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miernikcx
March 26, 2023
Question

Is rental property application fee deductible?

  • March 26, 2023
  • 1 reply
  • 0 views

I converted my Condo to rental in 2022. There was a $900 application fees paid to management company, and $1000 fee to condo. I wonder if these are deductible? Don't think I see any related expense category in TT. 

    1 reply

    A
    AnnetteB6
    March 26, 2023

    If these fees were charged to you as a result of your renting the condo, then they can be considered rental expenses.  

     

    Enter the application fee as a management fee since it was charged by your management company.  Enter the condo fee as a miscellaneous expense where you can type in your own description of the fee.   

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