Writing off homeowner's dues
A reader asks:Can one write-off homeowner's dues?
Our reply:
Since tax laws are changing constantly, we checking with our accountant to be sure we got the right answer. Here's what his office said:
Homeowners dues are not deductible if they are your primary residence, but are if the property is being used as a rental or income property as part of the cost of doing business. Although most of the dues go to insurance, this is not deductible for your primary residence.
- Janis Stone
posted by SFResidence.com @ 8:30 AM
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