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
Membership
Membership in this website is private. Request membership access.
Logo_w158
Tacoma, Washington 98465
Welcome to our ne

Tom Dolan was elected to serve as the Rosemount Place Owners Association President at the Annual Membership Meeting on August 21st of this year. Tom and his wife Karen have been active supporters of the Association since they moved to Rosemount several years ago. We look forward to his leadership and that of his fellow Board Members as they continue to support the livability of Rosemount Place.

Dolan_1-001.jpg

Zip Code Profiler

98465 Zip Code Details

Neighborhoods, Home Values, Schools, City & State Data, Sex Offender Lists, more.