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All associations that elect to be taxed as a homeowners association are entitled to a speciï¬c $100 deduction from its taxable income. This means that associations with relatively small amounts of taxable income could have their tax liability eliminated by the application of the speciï¬c $100 deduction.
Any portion of your HOA dues that go to something that you could deduct if you paid it yourself is tax deductible. For example, if your HOA technically owns the land surrounding the buildings in your development, the HOA would be responsible for paying the property taxes on that land.