I live in a co-op building. They sent me a 1098 There's a note that says claim a certain amount for my maintenance as "capital contributions"what is that?How do I do it?

[jasonortiz96]

The building issued a 1098 separate from that of the bank that gave me my mortgage. It includes the amount I've paid towards the building's interest and taxes, and it also has a note to include a certain amount towards "capital contribution". (it's calculated based on my monthly maintenance fees). What is this? Where and how do I add it?

[ToddL99]

A capital contribution is an act of giving money or assets to a company or organization.

Capital contributions are not deductible and are not reported on your tax return. In many cases, they are refundable in the event you sell your unit.

In your case, you are contributing funds to the co-op - these funds are used to finance major improvements to the common areas of your co-op. They can also be used as a reserve for major or unexpected repairs.