The National Directory of Certified Public Accountants

Ask A CPA - Property Taxes

Is The Assessment Amount I Paid My Homeowner'S Association Deductible As Taxes?

No. The Assessment payments you paid your homeowner's association for maintaining common areas of the residential property, such as recreation or safety, are not deductible. Amounts paid are added to the tax basis of the home. The tax basis will be used in the year of the sale to determine the gain or loss on sale.

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