There is no built-in way at the moment, but there are efforts to do so in the future.
More info:
New Plugin Adds Taxonomies to BuddyPress Groups
Shanebp,
Thank you for the update! Is this something that will be able to happen in the 2.1 version?
Thanks again,
Lightbay
It might be part of the 2.1 release, but more likely the 2.2 release.
https://buddypress.trac.wordpress.org/ticket/4017#comment:15
Is this something that will be able to happen in the 2.1 version?
No !
If you readed sarah’s post, ou have seen a mention to a post by Andrew Nacin on the Make (published 2013/28/07) where he writes:
A disclaimer: This post doesn’t promise anything. Do not rely on the contents of this post for future projects. It will take us some time to lay out the proper groundwork and make sure we get this right. Do not expect this to happen in WordPress 3.7, or even 3.8. (Actually, do not expect this to happen at all.)
Nothing about taxonomies is annonced for WP 4.0, so don’t expect that BP 2.1 will get something around taxo before WP.
You may use BP Group Taxo – as experimental plugin. 😉
Shane and Dan,
Thank you for the replies, I guess I will wait off on that feature for one of the projects I am working on until this comes into effect. I am grateful to hear that this is a feature that could be implemented in the near future even if it isn’t a guarantee 🙂
I’ve installed the BP Group Taxo but it doesn’t seem to be working right, so that it is something I need to work on.
I’ve also worked the the BP Group Taxo to see if maybe I can change the Taxonomy to one that exists through Pod Creation to maybe bridge the gap temporarily.
