Rentals in 94513>Question Details

 Dee, Real Estate Pro in Oakland, CA

Is Mello Roos tax a deductible operating expense on a rental property?

Asked by Dee, Oakland, CA Fri Feb 12, 2010

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5
Hi Lois-

Best to check with your CPA!
0 votes Thank Flag Link Sat Sep 11, 2010
Lois - Best to check with a CPA. Realtors are not tax experts.

Tony
0 votes Thank Flag Link Sun Feb 14, 2010
It looks like the answers that have been posted apparently pertain to individual tax returns, not expenses listed on Schedule E for business property.
0 votes Thank Flag Link Fri Feb 12, 2010
Hi Lois:

Please see the link for California Franchise Tax Board on deducibility of Mello-Roos taxes. It depends on the nature of the Mello-Roos; mostly, you can not deduct that if it's for local benefits and improvements; but you shall be able to deduct the maintenance and repair related Mello Roos.

Here is the link http://www.ftb.ca.gov/individuals/faq/net/909.shtml

However, the best thing to do is to take to your Tax Accountant to get their professional advise.

Regards,
Sylvia Barry
Marin, Sonoma
Frank Howard Allen Reators
(415) 717-0293
http://www.MarinHomePreview.com
0 votes Thank Flag Link Fri Feb 12, 2010
Sylvia Barry,…, Real Estate Pro in Marin, CA
MVP'08
Contact
Best confer with your CPA for all tax deductions off any investment property or homestead

Lynn911
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Feb 12, 2010
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