I was a holder of unsold shares in a coop. One of the benefits of that status is not being subject to the coop's flip tax. Then, 23 years after I purchased the apartment I moved in. That triggered loss of unsold share holder status. Now, 13 years later, I am selling the apartment. Our Coop has a flip tax based on profit. Do I use the initial purchase price (from 36 years ago) or measure the value of the apartment at the time of loss of holder of unsold share status in computing the flip tax?Join the Conversation Comments (1)
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