Question on co-ops...

So as you all know we're selling our co-op...and it's going really well. I think I may actually have a serious buyer...but I'm not jumping the gun just yet...

ANYWHO...

This is the question...how do I know what % of the maintenance is tax deductible?

2 people asked me that question and I didn't know how to answer that.

Re: Question on co-ops...

I would suggest getting in touch with the management company and asking them.

We were going to try to sell our co-op on our own, but I was nervous that I wouldn't be able to answer those types of questions, so we actually just got a real estate agent (who works with the management company) to help us sell it.

Re: Question on co-ops...

you should be getting your statements anyday form the co-op's accountant telling you how much of a tax deduction you get. Otherwise the managing agent will know.