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pauljackson0467-
April 12, 2022
Question

I live in a Co-Op. Does that count as owning a property? I pay a monthly assessment but I don't pay property taxes directly.

  • April 12, 2022
  • 1 reply
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1 reply

C
Cynthiad66
April 12, 2022

Yes you are a homeowner.  If your pay mortgage then you have interest expense deduction.  The property taxes are included in the monthly maintenance fees and calculated by the number of shares assigned to your property.

 

So you may be able to claim those items on Schedule A - Itemized deductions.

 

Here's how:

Log into TurboTax

Go to Federal tab

Up top selection Deductions and Credits

Enter all applicable information there.

The software will determine if you are eligible to itemize.

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