Day: October 3, 2023

  • Are Homeowners Association Fees Tax Deductible?

    Are Homeowners Association Fees Tax Deductible?

    While HOAs are nonprofit organizations, the IRS regards them as a corporation. In any case, HOAs collect various fees from homeowners to cover repair and maintenance costs. For this reason, HOAs must file tax returns annually on these dues. The good news is that some HOA fees might be eligible for tax deductions, lowering your…