Write offs on our RV lot (a tax question)
Last year we bought a RV lot in a nice RV park, with the plans to use it ourselves next year, but in the mean time the park has been renting it out for us. We get a certain amount, and the Park gets...
Forum Discussion
I'm sure you would have to pay state income tax on the income from rental fees you collected, but not what the HOA collected. Also, you should be able to deduct property tax, but I think all maintenance and water is probably provided by the HOA from your dues. If you have to pay for electricity, you may be able to deduct that.
As mentioned, you need to talk to a tax consultant or accountant to get all the correct info that your city/county/state requires.
For us, it's just not worth the amount of rental fees we would get, and have consequently removed our lot from the HOA rental program.
Ron
As mentioned, you need to talk to a tax consultant or accountant to get all the correct info that your city/county/state requires.
For us, it's just not worth the amount of rental fees we would get, and have consequently removed our lot from the HOA rental program.
Ron
