Question

Is HOA special assessment deductible

Forum|Forum|1 year ago
February 23, 2025
3 replies
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Our HOA purchased a golf course and assessed each home owner 12,000 to pay for the loan the HOA took out to pay for the property. Is this tax deductible for the homeowner?

Deduction

X

xmasbaby0

No. HOA dues or assessments are not deductible for your own home.

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M

MinhT1

No.

You cannot take a tax deduction for this HOA special assessment.

The golf course is supposed to add value to your property and the assessment can be added to the cost basis of your property.

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T

TeetaAuthor

even though it a loan?

M

MindyB

No, this is not deductible. It doesn't sound like it's a loan, it sounds like a fee the HOA will be paying their loan off with. Either way, it is not deductible.