Thank you in advance for your consideration. A few details to add and to emphasize:
This is a rental property that I have, not where I live.
This is a question about mortgage principal, not interest (I know interest is an expense).
I am not in the real estate business.
This is for the mortgage the co-op holds as opposed to a personal mortgage that I have directly with bank.
Monthly "maintenance" payments are made to co-op. On the statement for the monthly payments, it does not break down what the payment goes to, but I receive a yearly letter from the co-op CPA that explains relative to my shares, how much went to real estate tax, mortgage interest, and mortgage principal. I have no problem calculating those amounts and so they are known based on the letter.
My only question is, considering that this a property that I rent out, if the portion of my co-op maintenance charges that goes to paying down the mortgage principal (for the loan the co-op as a whole has) is considered an expense for Schedule E.
Thank you again!
