Home Buying in Midtown East>Question Details

Heather, Home Buyer in New York, NY

I am working for the Foreign Mission. so I don't pay tax at all. If I buy a co-op

Asked by Heather, New York, NY Tue Jun 24, 2008

If I buy a co-op
am I eligible for the Mortgage tax deduct from maintenance when I don't even pay tax? Usually co-op share holder
can get a tax benefit from the maintenace.

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Answers

2
Hind side 20:20... one day you'll think I should have bought it THEN...the prices are low and the interest is AT a historic low. Buy it ......forget the tax break...
1 vote Thank Flag Link Thu Jun 26, 2008
If you don't pay taxes, what would you deduct against? You have a taxable income of 0. The government is not going to send you money if that's what you're asking. You'll also start paying property taxes if you purchase.
1 vote Thank Flag Link Tue Jun 24, 2008
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