Why part of your maintenance is deductible
A co-op owns the building and pays its property taxes and the building's mortgage. Your maintenance covers your share of both. Internal Revenue Code §216 lets a tenant-stockholder deduct that share as if they paid it directly: the real estate tax part counts as property tax, and the interest part counts as home mortgage interest. The rest of maintenance (staff, fuel, insurance, repairs) is not deductible on a home you live in.
IRS Publication 530 says your share is your shares divided by total shares outstanding, applied to the co-op's deductible taxes and interest, and that the corporation will tell you your share. In practice that is the annual tax letter from your co-op or managing agent, often given as a percentage of maintenance. Enter those two percentages above.
At a glance
- 2026 SALT limit
- $40,400
- $20,200 married filing separately
- Phase-down starts
- $505,000 MAGI
- $252,500 MFS; limit falls 30¢ per $1 over
- SALT floor
- $10,000
- $5,000 MFS
- 2026 standard deduction
- $32,200 joint
- $16,100 single or MFS, $24,150 head of household
How the calculator works
- Maintenance paid = monthly maintenance × months owned.
- Real estate tax share = maintenance paid × tax percentage, minus any abatement your letter says to subtract.
- Interest share = maintenance paid × interest percentage.
- SALT deduction = the smaller of (tax share + state and NYC income tax) and your 2026 SALT limit.
- Itemized total = SALT deduction + interest share + share-loan interest + other itemized deductions.
- Tax saved = (itemized total − standard deduction) × your bracket, if positive.
Worked example
A married couple pays $1,800 a month in maintenance all year: $21,600. Their co-op letter says 45% is real estate tax and 20% is mortgage interest. That makes $9,720 of property tax and $4,320 of interest. They also paid $20,000 in New York State and City income tax, $28,000 of interest on their share loan and gave $2,000 to charity.
- SALT: $9,720 + $20,000 = $29,720, under the $40,400 limit, so all of it counts.
- Itemized total: $29,720 + $4,320 + $28,000 + $2,000 = $64,040.
- That beats the $32,200 standard deduction by $31,840. In the 24% bracket, they save about $7,642.
- About $3,370 of that saving comes from the maintenance deduction itself.
If the same couple had $560,000 of modified AGI, their SALT limit would drop to $40,400 − 30% × $55,000 = $23,900, and $5,820 of their SALT would no longer be deductible.
Edge cases
- Refunds: if the co-op gets a refund of taxes it paid in an earlier year, Publication 530 says your deduction for this year is reduced by your share of that refund.
- Partial year: if you bought or sold during the year, use the months you owned the shares and check the letter for how the co-op allocates the year.
- Share-loan interest: Publication 530 says interest on a loan used to buy co-op stock can generally be treated as home mortgage interest. Publication 936 sets the debt limits and explains how your share of the co-op's own debt counts toward them.
- 37% bracket: from 2026 an overall limit reduces itemized deductions for top-bracket taxpayers (Publication 505), which this calculator does not model.
Related tools
See how much the co-op abatement lowers the building's tax bill with the co-op/condo abatement estimator, and test your share loan with the mortgage interest deduction calculator. For background, read the SALT cap explained and co-op maintenance vs condo common charges.