My mother was a Mitchell-lama cooperator having lived there for 60 years. Thank you for any advice or at least pointing me in the right direction I am trying to avid the cost of a CPA and or lawyer as the total value of this coop is rather low. Is this correct? If not is there anything else to do. We would each have to then report this as a 1040 D loss on each of our 1040s up to a total of $3,000.00 (1500 each). Normally this would be a wash but IRS said I could increase the basis cost by the cost of 3/1/2 months carrying charges and floor scraping and then report the resulting loss on two 1041 K1s split between beneficiaries my sister and myself. They said the FMV of the apt would be the amount shown on the 1099. I called the estate tax unit of IRS twice. As her son and appointed voluntary small estate administrator with tax EIN I turned in the keys and received the reimbursement of amortization, capital assessment, equity less 3 1/2 months carrying shares and cost to refinish floors. For more than 43 years, Associa has brought positive impact and meaningful value to communities. Our 11,000+ team members lead the industry with unrivaled education, expertise, and trailblazing innovation. With more than 225 branch offices across North America, Associa is building the future of community for nearly five million residents worldwide. It currently services nearly 200 buildings representing almost 15,000 apartments, throughout New York City. is a leading property management firm with over 37 years providing service excellence to its cooperative and condominium clients, including a portfolio of Mitchell-Lama properties. The RFP response, pitch, and presentation was led by MKI President David DeGidio and Senior Vice President of New Business and Marketing Andy Marks. Jamie Towers is finalizing its management transition under the leadership of MKI Chief Administrative Officer Angela Karabaic. “We are pleased with our experience so far and look forward to a long and mutually beneficial partnership.” “We are thrilled to have the opportunity to work with a real estate property management firm with solid experience managing Mitchell-Lama cooperative communities such as ours,” said Nestor Ortiz, Jamie Towers co-op board president. “We also thank the New York State Division of Housing and Community Renewal for their efforts throughout this competitive, multi-phase bidding process.” “We are excited to welcome the Jamie Towers community to the Maxwell-Kates family and are honored that their board and shareholders trust us to manage their most valuable assets,” said Maxwell-Kates President David DeGidio. The New York State Division of Housing and Community Renewal oversees Mitchell-Lama developments and works with owners as they provide low-cost financing tools to help maintain the developments while also extending their affordability. The Mitchell-Lama Program was created by the Limited Profit Housing Act in 1955 to provide middle-class homeowners throughout the state with affordable housing. MKI is one of only a handful of property management firms designated by New York City and New York State as Mitchell-Lama management specialists. Jamie Towers joins several additional Mitchell-Lama communities that are already longstanding MKI clients. Fish and Kenia Vargas as onsite property manager and assistant property manager, respectively. To oversee the complex, MKI has brought on property management veterans Frank J. The Jamie Towers complex includes four buildings with 620 units featuring a central green space, swimming pool, playground, community room, and outdoor parking. (MKI), an Associa company and leading provider of property management services in New York City, is pleased to announce that Jamie Towers, a Mitchell-Lama cooperative located in the Castle Hill section of the Bronx, has selected the company as its managing agent of record. NEW YORK, (GLOBE NEWSWIRE) - Maxwell-Kates, Inc.
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