HOA providing employee housing

Started by CarlaS2 • 2 replies • 832 views

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CarlaS2 (Colorado)
Posts: 28

Posted:

As anyone every been involved with an HOA that provides free employee housing in units? Is this a tax free benefit to the employee for a not for profit HOA?

SheliaH (Indiana)
Posts: 6,964

Posted:

Did you ask the board or property manager this question? What was the response?

I suspect the employee housing is a benefit and even though they might not pay up front, I'm sure they have to declare its value somehow on their taxes.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

BenA2 (Texas)
Posts: 1,273

Posted:

It is generally taxable as a benefit but there is an exception if the housing is provided for the benefit of the employer, e.g. to have the employee onsite if needed for emergencies, and the employee is required to live there as a condition of employment.

I would talk to an accountant to be sure.

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