passatdoc
Well-known member
question for nycwriter
Since maintenance fees for a co-op include property taxes, does each owner receive a pro-rated receipt for the property taxes paid at the end of the year? I would imagine that many owners fall into Alternative Minimum Tax territory, to the point where the property taxes cannot help soften their federal tax burden, but for some retired owners below AMT, it may still be a viable deduction.
Since maintenance fees for a co-op include property taxes, does each owner receive a pro-rated receipt for the property taxes paid at the end of the year? I would imagine that many owners fall into Alternative Minimum Tax territory, to the point where the property taxes cannot help soften their federal tax burden, but for some retired owners below AMT, it may still be a viable deduction.