HOA Dues part of "operating expenses" of rental property on Form 22C?
Hi All,
Ch. 13 Debtor & spouse are barely below median and qualified for a 3 year Plan.
They have Rental Property income which just about breaks even (if not negative) with the mortgage liability and mandatory HOA dues, and thus no profit.
When entering the rental income and property expenses on Line 4 of Form 22C, doesn't "Ordinary and Necessary Operating Expenses" include the Mortgage payments PLUS the HOA?
Mind you, this is a Santa Ana case
Thanks in advance,
Nikki
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