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Change to Tax Form by IRS Does NOT Impact Co-op City Shareholders

Printed From: Co-op City Information Network
Category: * ANNOUNCEMENTS
Forum Name: Co-op City Announcements
Forum Description: Co-op City Announcements
URL: https://www.coopcityinfo.com/forum_posts.asp?TID=1352
Printed Date: Jan 24 2025 at 3:27pm


Topic: Change to Tax Form by IRS Does NOT Impact Co-op City Shareholders
Posted By: Administrator
Subject: Change to Tax Form by IRS Does NOT Impact Co-op City Shareholders
Date Posted: Feb 17 2017 at 8:53pm
Change to Tax Form by IRS Does NOT Impact Co-op City Shareholders

A tax form that https://www.coopcityinfo.com/departments-and-organizations/riverbay-corporation/" target="_top" rel="follow - Riverbay Corporation sends out to Co-op City apartment shareholders each year may look different, but nothing has changed regarding how it affects your individual tax return.

The form, 1098, is sent out each year to indicate the share of Riverbay Corporation's real estate tax and mortgage interest that each Coop City cooperator pays as part of their annual carrying charges. Those two numbers are still on the form as always.

The IRS now requires three additional numbers on the 1098 form – the outstanding mortgage principal, the mortgage origination date, and the mortgage insurance premiums.

None of these numbers affect a shareholder's individual tax return, according to the https://www.coopcityinfo.com/departments-and-organizations/riverbay-coop-city-finance-department/" target="_top" rel="follow - Riverbay Finance Department .


Replies:
Posted By: Guests
Date Posted: Apr 18 2017 at 6:52am
Ok but in the turbo tax program, when you try to input line #2, outstanding mortgage principal, which is a ridiculously high number of almost $600 million, the tax program says that number is too high and it will not allow you to enter the value. Do I just leave boxes (2 and 5) off my tax form altogether?


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