coop tax deductions Archives | Realty Collective

Tax Time and Co-Op Living— What Co-Op Costs Are Tax Deductible?

Tax Time and Co-Op Living— What Co-Op Costs Are Tax Deductible?

Jan 27, 2022 Brooklyn Buyers,Brooklyn Buyers Agent,brooklyn cooperative,brooklyn real estate,brooklyn realty,coop board,coop tax deductions,cooperative living,nyc taxes

If you currently live in one of Brooklyn’s historical & whimsical co-ops, you have a few things to keep in mind this tax season. We’ve put together a quick guide of tax deductions —and non-deductible costs— to help you out when you start to file. Check it out in the post below, and feel free […]

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How to Figure Out Your Co-op Maintenance Tax Deduction—a Simple Formula

Jun 05, 2020 coop tax deductions

It’s tax season again and a prime time to remind you that if you live in a co-op, you can actually deduct your co-op maintenance fees! You just need to know how. Let’s start with how much you can deduct, which is based on the portion used to pay real estate taxes and interest on […]

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Is My Co-op Maintenance Tax Deductible?

Jan 17, 2020 brooklyn,bryan distefano,coop,coop interest,coop shares,coop tax deductions,everbank,monthly maintenance,new york city,property taxes,real estate taxes,tax deductions,tax write offs,victoria alexander

Can I deduct my co-op maintenance tax? The short answer is YES—a percentage of your monthly maintenance is tax deductible and this percentage is different from unit to unit depending on number of shares owned. With a co-op, the amount of the maintenance that is tax deductible is based on the portion that is used […]

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