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Are the interest fees paid on timeshares eligible to claim
Second opinion] Are the interest fees paid on timeshares eligible to claim as deduction ??… read more
PDtax
PDtax
Owner
Master's Degree
5,190 satisfied customers
I purchased a timeshare in 18. Is it possible I could take
hello. i purchased a timeshare in 18. Is it possible I could take my travels off as I did purchase the timeshare. Also what could I deduct from the timeshare information. i just paid (2019) money for … read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
766 satisfied customers
We formed a CA LLC to buy a timeshare. We sold off some of
We formed a CA LLC to buy a timeshare. We sold off some of the time for this year and TurboTax is showing that as income but will not let us deduct our annual fees against it. Is that correct? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,728 satisfied customers
Tax related. I have not done my 2013 state taxes and just
Tax related.I have not done my 2013 state taxes and just sent in my federal.I am itemizing and would like to know if and how to do a few things.I am paying on a mortgage in my homE state of South Caro… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,728 satisfied customers
Is timeshare mortgage interest on my 1098 tax form a deduction
Is timeshare mortgage interest on my 1098 tax form a deduction I can take on my 1040 form? I was told by an accountant it's best not to claim the timeshare interest as it is not truly a second home-… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,665 satisfied customers
Hello, My HOA recieved an insurance claim due to a storm
Hello, My HOA recieved an insurance claim due to a storm last year. Where is this reported on the 1120-h? Also, we received a donation and minor rental income from a member of the association and mino… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,433 satisfied customers
I bought a timeshare in 2012. Can I deduct those closing costs
I bought a timeshare in 2012. Can I deduct those closing costs and any maintenance fees/association dues on my taxes?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,433 satisfied customers
I paid a company to transfer the title of our timeshare to
I paid a company to transfer the title of our timeshare to get out of the timeshare. Is there any tax deduction for that loss? We paid $9,000.00 for it in 2002 and paid $2,900.00 to get rid of it. Tha… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,433 satisfied customers
I have rented out points on a timeshare for 2011 and have paid
I have rented out points on a timeshare for 2011 and have paid maitenance fees to my timeshare company how do I handle these fees on my 2011 tax form?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,433 satisfied customers
I bought a timeshare in 2006 for $13,600. When I got the papers
I bought a timeshare in 2006 for $13,600. When I got the papers I found we had access only once every three years (This was never revealed to us before). I began to worry about leaving such an albatro… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I recently sold a timeshare which I purchased for $9600. I
I recently sold a timeshare which I purchased for $9600. I had to pay $3200 in closing costs just to get the timeshare out of my name to stop paying the rising maintenance fees and almost zero exchang… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My wife and I are filing jointly. Prior to 2009 we had bought
My wife and I are filing jointly. Prior to 2009 we had bought into a time share property in Florida. This was a stupid move for us since we never used any of the points available to us and could not s… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I HAD TWO (2) TIMESHARES THAT I GOT RID OF AND HAD TO PAY
I HAD TWO (2) TIMESHARES THAT I GOT RID OF AND HAD TO PAY OVER $7000.00 TO GET RID OF THEM. THE COMPANY WHO GOT THE TIMESHARES SAID THAT WE COULD TAKE THEM OFF ON OUR INCOME TAX AS A LOST. THANK YOU P… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
We bought a timeshare in 1996 for $8900. We are about to pay
We bought a timeshare in 1996 for $8900. We are about to pay a fee for a company to assume the deed and the contract on that timeshare so that we don't have to continue paying the maintenance fees etc… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,433 satisfied customers
We owned two timeshares which we purchased for $8500.00 each.
We owned two timeshares which we purchased for $8500.00 each. To free ourselves of these properties and rising fees we paid $5000.00 to "Timeshare Relief" to get rid of them. Am I entitle to claim a l… read more
Lou
Lou
High School or GED
272 satisfied customers
my wife own,s 1-10th of a time share in oregon. the ...
my wife own,s 1-10th of a time share in oregon. the annual maintenance fee is about 3500. dollars. we use the home 5 weeks per year. can we claim the cost as a second home on our federal taxes?… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
Can interest on a motorhome and a timeshare be deducted if
Can interest on a motorhome and a timeshare be deducted if I am already claiming a primary residence and a rental property?… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
We have a timeshare that we have been unable to sell.
We have a timeshare that we have been unable to sell. Recently we met with Timeshare Relief, Inc and they said they will get our name off the warrenty deed for a fee and that we can then claim a capit… read more
The Guy Behind the Tree
The Guy Behind the Tree
Master's Degree
906 satisfied customers
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