Question

 Are condo fees tax deductible?

Answer Not usually. Your monthly assessments -- fees, you write -- pay to operate the community and save money for major repairs.
http://wiki.answers.com/Q/Are_condo_fees_tax_deductible

Top Q&A For: Are condo fees tax deductible

Are condo maintenance fees tax-deductible?

Condo maintenance fees are not usually tax deductible. However, it is important to talk to your tax preparer to find out you can deduct other mandatory fees or if laws may have changed in your stat... Read More »
http://www.answerbag.com/q_view/2064964

Is there a law regarding condo fees I live in a four-unit condo One of the members has not paid his condo fee for 7 months?

Yes, and the law is a local state law, plus the governing documents under which the association operates the property. Read your governing documents and follow the guidelines there to collect the p... Read More »
http://wiki.answers.com/Q/Is_there_a_law_regarding_condo_fees_I_live_in_a_four-unit_con...

If you own your home outright and the condo association has placed a lien on it for unpaid condo association fees can they take your home if the fees are not paid?

Yes.Read your governing documents to verify that your monthly assessments represent an automatic lien on your title.When your board decides to file a formal lien, they are taking one of several ste... Read More »
http://wiki.answers.com/Q/If_you_own_your_home_outright_and_the_condo_association_has_p...

When a condo owner does not pay monthly fees can the association collect late fees or interest?

Yes, generally. Your governing documents could be very specific on this issue. (Generally, assessments are levied against owners in order to pay the operating expenses of the community. Often, not ... Read More »
http://wiki.answers.com/Q/When_a_condo_owner_does_not_pay_monthly_fees_can_the_associat...


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