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Is flip tax for a co-op decided day of inheritance or original purchase?
Wiki User
∙ 13y ago
A 'Flip Tax' appears to be a co-op-centric notion -- which is not really a 'tax', where according to Wikipedia:
"It is a transfer fee payable upon the sale of an apartment to the co-op."
There does not appear to be a standard.
The Wikipedia entry lists five types of flip taxes paid when owners 'leave the building'. Your co-op board will help you understand which date is involved in their calculation of the flip tax in your case, and which type of flip tax is being charged.
You can read more, below.
Wiki User
∙ 13y ago
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