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

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 […]

Is My Co-op Maintenance Tax Deductible?

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 […]