Co-op Tax Deduction Calculator

Pursuant to the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a cooperative housing corporation is entitled to an itemized deduction for a proportionate share of interest and real estate tax paid or incurred by the housing corporation. Present and past stockholders who were not stockholders of the Corporation for the entire year are entitled to a proportionate share of the deductions for the period of their ownership. These deductions are only available if you itemize deductions on your personal income tax return.

Use the table below to compute your deduction.


Mortgage Interest Deduction

Enter the # of shares you own as per your stock certificate.

Enter the # of days you owned your shares.

Enter your per share mortgage interest deduction.

Your interest tax deduction.



Real Estate Tax Deduction

For the year, if you were granted any real estate tax abatements, reflected in a maintenance credit or received by check, your real estate tax deduction should be reduced by the amount of the abatements you received. Use the table below to compute your deduction.
Enter the # of shares owned as per your stock certificate.

Enter the # of days you owned your shares.

Enter your per share real estate tax deduction.

Enter amount of real estate tax abatements you received during the year.

Your real estate tax deduction

Disclaimer

The information contained within this website is provided for informational purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a professional accountant. You should consult your legal, tax and financial advisors before making any financial decisions.

Any U.S. federal tax information or advice contained in this website is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax related penalties or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.