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Old 04-02-2010, 09:34 AM
 
527 posts, read 979,364 times
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Hi- Me and my boyfried are buying a co op in queens together both of us will be on the mortgage - my question is... when its tax time can we both claim that co op- meaning mortgage, maintenance etc. Any info would be greatly appreciated!
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Old 04-02-2010, 09:50 AM
 
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you split it in half providing your on the mortgage and the stock certificate...
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Old 04-02-2010, 10:17 AM
 
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of the maintenance, the property taxes and interest of the underlying mortgage will be tax deductible and you will get a 1098. I would let them know by Jan 1st next year you want them to produce 2 at 50/50. Some accountants/mgmts do it automatically, some do not.
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Old 04-02-2010, 10:33 AM
 
527 posts, read 979,364 times
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thanks so much- i currently own my own co op now- just sold it and me and him will be buying a bigger new co op together- I know it always helped me tax time and wanted to know if the two of us jointly owning would have effected that- so i guess next year i will just remind the mortgage company and the co op developement to issue both 50-50 thanks!
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Old 04-02-2010, 02:59 PM
 
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Quote:
Originally Posted by jackinyc View Post
thanks so much- i currently own my own co op now- just sold it and me and him will be buying a bigger new co op together- I know it always helped me tax time and wanted to know if the two of us jointly owning would have effected that- so i guess next year i will just remind the mortgage company and the co op developement to issue both 50-50 thanks!
also it helps a lot if you get 2 separate proprietary leases, one with your name and one with your boyfriend's name on it. i wish i had known to do this when my wife and i purchased our co-op. it was such a pain going through everything the 1st time around that i didnt bother to see if i could get the leases re-done.
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