Quote:
Originally Posted by BrianL99
As the maintenance fee also maintains golf courses, clubhouses and pools, I doubt the IRS would agree with you. That said, I might try it next year. I'll let you know the results if I get audited.
|
Quote:
Originally Posted by Topspinmo
And by time you get audited you will own thousands in penalties.
|
The general IRS penalty for inaccuracy (claiming a deduction that's disallowed), is 20% of the portion of the under-payment. If someone was to inaccurately deduct all or a portion of their Maintenance/Amenity Fee, at a 22% Tax Rate, the Penalty would be around $100 (although there may be a "minimum penalty of $435?).
$225/month = $2700. $2700 * 22% = $594. $594 * 20% = $118.
Not giving tax advice, only math assistance.