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ambc
Level 3

Are loan fees deductible when a loan is taken out by a housing cooperative, similar to points for an individual mortgage?

I own a coop unit. In 2016, the cooperative took out a loan. I received a 1098, with mortgage interest in Box 1. However, the cooperative paid a fee to the lender for the loan. The fee is not included in Box 6. Are cooperative loan fees deductible in the way that points would be for an individual mortgage?

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Are loan fees deductible when a loan is taken out by a housing cooperative, similar to points for an individual mortgage?

Not if the co-op loan fees are of an administrative nature- charges connected with getting or refinancing a mortgage loan

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Are loan fees deductible when a loan is taken out by a housing cooperative, similar to points for an individual mortgage?

Not if the co-op loan fees are of an administrative nature- charges connected with getting or refinancing a mortgage loan

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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