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

With the 2020 tax deadline extended to July 15, you have some extra time to look for deductions this year. And if you live in a co-op, that’s good news because 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 […]

Is My Co-op Maintenance Tax Deductible? by Victoria Alexander

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 to pay real estate taxes and […]