Taxes?

Do you get to claim the taxes on a co-op if they are already included in the maintenance fees?

I'd love for this to be a write-off...

Thanks

You will get a 1098 at the end of the year from the co-op's accounting firm giving you the amount of what you can deduct. Usually that amount is the combination of your share of the co-ops property taxes... AND you get to claim your share of the co-op's underlining mortgage.

Real world number... expect to be able to deduct somewhere between 40-55% of your total year's maintenance.

Thanks! You just settled a debate between me and my stubborn Italian father, who doesn't want his baby to move out!