Is the $9500.00 i paid for a share in a co-op tax deductible?

shayrell · ‎June 4, 2019

IreneS · ‎June 4, 2019

No - The $9,500 you paid for a share in a co-op is similar to a down payment on the purchase of a house. Neither are deductible. However, the interest portion of your monthly co-op payment is deductible.

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IreneS · ‎June 4, 2019

No - The $9,500 you paid for a share in a co-op is similar to a down payment on the purchase of a house. Neither are deductible. However, the interest portion of your monthly co-op payment is deductible.

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Is the $9500.00 i paid for a share in a co-op tax deductible?