Thanks! That's what I was hoping for. What else can be taken from the coop financial statements? I'm looking at the Building (net of Land) and increases in accumulated depreciation on the coop's Balance Sheet. The Building line item must represent the original cost of the building when it was built many decades ago, before I was there. Still, it's a depreciable asset, can I depreciate my portion of it on Sch. E? Or can I use/deduct coop's annual depreciation? Or both?
On the Income Statement, my feeling is I probably can't do much with the expenses because I already essentially deduct them by deducting my coop maintenance payments. But what about the rest of the Financial Statements items, the Balance Sheet, notes, etc? I already added Additions to Paid-in Capital, which are mentioned directly in IRS publications. Someone also advised me I can depreciate increases in property improvements and equipment that occurred while I owe the apartment. Now I'm adding coop mortgage cost. What else can be utilized from the coop statements?
