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It depends.
Ask the Cooperative Housing Corporation.
Your portion of the interest the cooperative pays is your deduction, but the interest on your loan to purchase the stock may or may not be a deduction depending of the rules of the corporation as well as state/local law.
“A qualified home includes stock in a cooperative housing corporation owned by a tenant-stockholder. This applies only if the tenant-stockholder is entitled to live in the house or apartment because of owning stock in the cooperative.”
“In some cases, you can't use your cooperative housing stock to secure a debt because of either:
However, you can treat a debt as secured by the stock to the extent that the proceeds are used to buy the stock under the allocation of interest rules.”
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