Pursuant to the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a cooperative housing corporation is entitled to an itemized deduction for a proportionate share of interest and real estate tax paid or incurred by the housing corporation. Present and past stockholders who were not stockholders of the Corporation for the entire year are entitled to a proportionate share of the deductions for the period of their ownership. These deductions are only available if you itemize deductions on your personal income tax return.
Use the table below to compute your deduction.
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