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Are condominium fees tax deductible

Updated: 9/19/2023
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12y ago

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When you live in a condominium, you pay assessments which your board budgets each year to pay operational expenses for the community.

These expenses are not typically tax deductible by an owner who occupies a unit. In your state, in your tax situation, best practices dictate that you consult with your tax attorney to identify whether or not assessments are deductible from your tax bill.

Optional fees, such as amenities-use fees may be treated differently by your tax adviser in your situation, especially if you pay the fees for the benefit of a tenant and your condominium is an investment and not your home.

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12y ago
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