Question:
I'm considering a condo in the state of Montana.
Answers:
These dues are personal in the nature and, thus, not deductible. They will become deductible only when they are necessary and connected to the production of income(i.e, if you rent your condo and collect fair rental market value). I would advise you though to familiarize yourself with the list of what's included in dues. Sometimes some components could be tax deductible(such as mortgage interest, property taxes, taxes based on value of the condo).
No, only if you rented out the condo.
As a condo owner, I can unequivocally has that monthly dues paid the HOA are not deductible.
This article contents is post by this website user, HiAnswer.com doesn't promise its accuracy.
More Questions & Answers...