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posted Jun 4, 2019 6:39:14 PM

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

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1 Best answer
Intuit Alumni
Jun 4, 2019 6:39:15 PM

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.

1 Replies
Intuit Alumni
Jun 4, 2019 6:39:15 PM

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.