"Kate" <creneau202[at]comcast.net> wrote:

- quote -

If the HOA does not own the property, it cannot donate it.
The member of the HOA must each donate their share.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Kate wrote:

- quote -

It is probably the HOMEOWNERS who have donated the property,
not the HOA. The HOA is simply operating as the homeowners'
"agent." If the homeowners can figure some way to allocate a
portion of their basis to the property that was given up,
then I think they could potentially claim a charitable
contribution for same.

Note that the charitable donation is NOT "passed through"
the HOA. It was never the HOA's in the first place.

MTW

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

This response seems a bit odd to me as the HOA is a
corporation that is not a passthrough entity. Yes, the
common area is owned ratably by its members through deeded
membership in the HOA and the corporation is owned by its
members. The HOA is apparently a taxable entity who can make
an election for a special tax treatment as a homeowners
association. Since net revenue/loss for the year is not
passed through to the association members and taxed on their
returns, how is it possible that a charitable donation could
be passed through?

Am I missing something here?

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Kate wrote:

- quote -

In my state (WA) HOAs typically don't own anything. Rather,
the "common area" is owned pro rata by the homeowners.

Thus, is there a possibility of a charitable contribution
deduction that could be allocated ratably among the
homeowners ??? (I don't know for sure; I'm simply providing
food for thought.)

MTW

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

An HOA in Colorado had an old house as part of the common
property. The City agreed to take ownership of the old house
and it was subsequently subdivided/partioned from the HOA
common property.

Question: the HOA has no cost basis in the property and is
not being relieved of any obligations nor receiving any
consideration (cash or otherwise) in this transaction. The
City wants the old property for historical preservation
purposes. Is there any tax consequence to this transaction
either in tax cost or tax benefit?

My initial thinking is "no". What is yours?

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >