What does it mean that the maintenance is 50% deductible and how will that affect me?

Tee
Tee
Home Buyer
10503

Mon Jun 29 2009, 15:15 - Home Buying in Pelham - 1 answer
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First to answer: Barbara
Barbara
Barbara
Agent
Irvington, NY
FIRST ANSWER

When you buy a co-op, your maintenance includes property taxes plus building maintenance. So saying that the maintence is 50% deductible is telling you that approximately 50% of the monthly fee goes towards taxes. These are deductible on your tax return. You would get a statement from the building each year with the exact amount.

Barbara Hallen
Hudson Shores Realtors
914-591-5600

Mon Jun 29 2009, 15:26
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