zero percent of maintenance is tax decuctible

suggest a mistake.talk to broker. that doesnt make any sense

Could have broken some IRS rule for getting any deductions. For example, ;let's say it's on of these "live-work" Coops which is technically a Commercial Coop.

for condos, it's always the case and maintenance is common charges. when it comes to coops, at least the property taxes have to be tax deductable. never heard of what 30yrs is talking about, but he knows his stuff.

Thanks. 30yrs, how would I go about finding out what is going on. BTW, this isn't a sketchy loft which will have its C of O "soon." It's a frumpy oldish coop in Bklyn.

there could be a tax-abatement.

It could be a land lease, where the coop doesn't own the land and therefore cannot claim any tax benefit. This "frumpy oldish coop" wouldn't happen to be 100 Remsen St., would it?

If it is a land lease How would I know? no, it's not 100 Remsen....it's even frumpier.

Ask the broker, or the coop's management. Or post the address; chances are someone here might know, or know how to find out.

And the answer is-------an error in the listing!

We saw a good deal of listings that seemed to have arbitrary numbers in the tax deductibility of maintenance box -- 100% (suuuure), 75%, 50%, 0%, etc. If it was a round number, we just assumed it was wrong. And if it was not a round number, we gave it a 50-50 shot of being right.

In the past, if a co-op got more than x% of its revenues from retail spaces below, you couldn't deduct maintenance... but I feel like they changed the law 2x.