I live in a coop, how do I determine my real estate taxes paid?

[turbog]

I received a letter from my coop's accountants stating that for the 2015 calendar year, my per share deductions are as follows:

• Real Estate Taxes: $4.68 per share
• Mortgage Interest: $0.73 per share

This letter was accompanied by a 1098 with only mortgage interest received in Box 1.

Is my real estate taxes paid: my shares * 4.68 as I don't see any mention of real estate taxes in my 1098?

Thank you.

[Fern]

Yes, your calculation of your share of the real estate taxes is correct.

Form 1098 is used to report mortgage interest.  Real estate taxes do not have a similar tax form.  The letter from the accountants is your documentation for the real estate taxes included in your tax return.

[tamarmatza]

I have a 1098 form with an amount in box 10 real estate taxes and an amount for mortgage interest in box 2.

 I also got a letter from the coop with the numbers for real estate and mortgage interest to per share.

i purchased the coop apartment after the beginning of the year ( April 2019) 

These amounts ( real estate and mortgage interest) are different if I do my own calculations.

Do I have to calculate the real estate taxes and mortgage interest on my own (multiply by my share) or state the numbers on the 1098 from the coop.

[JotikaT2]

It depends.

Your question is a bit confusing so not sure if the 1098 is from the co-op or if you have a loan on your own for the property.  

I can tell you the 1098 form is sent to the taxing agencies so I recommend reporting those amounts as they were reported to you. 

If the 1098 has the amount for the entire property and the co-op has the amount allocated specifically to you, I would recommend using the number as provided by the co-op as this would be the percentage of the interest and taxes allocated to you.

[vesg91]

Than, what do you do with the interest number that they provide?

[MarilynG1]

@vesg91 Click this link for info on How to Enter Mortgage Interest.