Rosemount Place Owners Association

Use This HOA Tax Break!


 
Don't overlook this easy to use tax break...
Did you know that some of the improvements your HOA made can also reduce your gain when you sell your home?
Some of those monthly dues to your HOA were spent improving your community as well as maintaining it. When you sell, it’s time to reap the financial benefits!
Follow These Steps:
  1. Find your percentage ownership in the HOA (Hint: look in your HOA Declaration. If you belong to a cooperative, you can find this number on your share certificate or proprietary lease.)
  2. Determine which improvements qualify (get an accounting from your HOA of improvements made while you were a homeowner and then use IRS Publication 523)
  3. Do some math: Multiply qualified HOA improvements by your ownership percentage and subtract that from your gain from selling. Read More… Taxable Gain = Gain – (Improvements X Ownership)
This tip contains general information. Individual financial situations are unique; please, consult your financial advisor or tax attorney before utilizing any of the information contained in this newsletter.
Posted by CarolSmythe on 02/07/2014
Last updated on 02/25/2014
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Tacoma, Washington 98465
Welcome

Recently we’ve had several of our Rosemount homes occupied by new residents. Due to hospitalization or other health needs, two homes have sold and two leased homes became available. The following are the newest changes in occupants.

7219 Bev Marcelia moved into the former residence of Chris and Sally Christensen. Chris and Sally are now at Merrill Gardens. Bev moved here from the north end of Tacoma and is in the process of settling in.

7223 Phil and Bev Shideler moved here from the South to help care for their young granddaughter. Their home here was previously occupied by Burton and Ginger Apello who are now at Merrill Gardens.

7258 Lois Putman purchased Kathy Schmidtke’s home. Lois previously lived on Day Island and decided it was time to downsize.

7274 Betty Wickman purchased Gene and Fran Teodoro’s home. Betty is a former teacher. Although we miss the Teodoro’s, Betty is a great addition to Rosemount.

7260 This home purchaser will close on the former home of Vi Reopelle sometime in March.

And lastly, we’re glad to see Barbara Miller (7216) return home after an extended absence to regain her health. Welcome home Barbara.

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