Quote:
Originally Posted by BrianL99
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.
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The annual maintenance fee is not the same as the monthly amenity fee. Different amounts and used for different purposes.
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Confirmation bias is real; I can find any number of articles that say so.
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