No it doesnu2019t. The HOA payments and the property tax payments are stillincome that you received. This would be true even if you directed them todonate amounts to charity in order to live in your property. The donationswould still be income that you received and you would be taxed on their fairvalue which would be whatever the tenants paid as rent.The only way they wouldnu2019t be taxable rent was if they were gifts. But the IRSis going to have a hard time believing that you let your tenants live rentfree as a gift and they paid your HOA payments and property tax payments as agift. That seems a lot like a barter to me and Iu2019m pretty sure the IRS willfeel the same way. Barter of course is taxable.