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If you have a co-op unit in Manhattan you want to rent out or sell what sort of taxes would you have to pay?
Wiki User
∙ 11y ago
[From Publication 527 at the IRS' website] If you have a cooperative apartment that you rent to others, you can usually deduct, as a rental expense, all the maintenance fees you pay to the cooperative housing corporation. However, you cannot deduct a payment earmarked for a capital asset or improvement, or otherwise charged to the corporation's capital account.
Wiki User
∙ 11y ago
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Rent payments and property taxes would be counted as?
Fixed cost
How do you file your taxes if you lived in a rental property for the year but your roommate paid the rent?
Rent has nothing to do with how you file your income taxes, nor does who pays rent. If you are single you will file your taxes as single.
I would like to rent an apartment in Coop City, Bronx, N.Y. Is this possible or do I have to purchase?
There are apartments in Coop City Bronx. With this said the number of empty apartments is very low. I would look for a sub-let apartment many people will let there apartment out. good luck
Property taxes and rent payments would be classified as which types of costs?
Fixed Cost
Do you have to pay taxes on apartment rent?
In most states, you will not have to pay taxes on apartment rent. You simply pay the required monthly rent to your landlord and you will never have to record those amounts when you file your yearly taxes.
Is paying rent tax deductible?
No, not for Federal taxes.
What are average property taxes on an apartment?
When you rent an apartment the property taxes that are imposed on the property is billed to the owner of the property. The tax may be part of the total that you pay for rent.
Can you claim rent on taxes as a student?
No. But your father and mother get taxes for having to take care of you so there is an advantage.
Do you have to pay taxes on free rent?
not if you are renting free from the home owner the home owner has to pay taxes
Do you pay school taxes if you don't own property?
In some areas, property taxes may be collected from renters in the form of increased rent, as landlords may pass on the cost to tenants. However, the responsibility for paying property taxes typically falls on the property owner, not the tenant.
What is considered a cheap apartment for rent in Manhattan?
$12-$1500 would be considered cheap for the area. See some listings here http://www.apartments.com/Results.aspx?page=results&stype=city&city=Manhattan&state=NY&rad=5
What were colonial taxes used for?
for the king and so they can rent out the land
