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Get your taxes done using TurboTax
Section 216 is a deduction of taxes, interest, and business depreciation by cooperative housing corporation tenant-stockholder. Cooperative housing residents have the same potential tax benefits as other homeowners, including taking their share of the mortgage interest and real estate taxes as a deduction on Schedule A of their 1040 federal income tax return.
Based on your question, I am assuming you are itemizing your deductions instead of using the standard deduction. These costs are only deductible if you are itemizing your return and would be entered in the Deductions and Credits section of TurboTax Online.
Are your expenses lumped together or are they separated out by taxes and interest. Hopefully they have them separated for you. The interest will be recorded under mortgage interest. It's okay that you don't have a 1098. Your taxes will be recorded under Property Taxes.
Since you don't have a regular mortgage, but follow the prompts and click on the ? or Learn More areas for additional information.
If you have additional questions, let us know.
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