Condominium owners enjoy greater tax advantages than cooperative owners since cooperative owners cannot deduct interest and property tax payments.

Question

Quizplus · Accepted Answer

Both condominium and cooperative owners can deduct interest and property tax payments on their individual tax returns, assuming they itemize their deductions. The difference in ownership structure does not inherently provide greater tax advantages to one over the other in this regard.

Condominium Owners Enjoy Greater Tax Advantages Than Cooperative Owners Since