2015 SSR tax per point

[Tarzan513]

Hi Everyone,
I purchased 230 SSR points through resale last year and now would like to know what was the 2015 property tax per point so I can deduct these property taxes on my 2015 tax return. Since I bought resale, DVC did not send me 2015 documentation with this information and after two calls to the accounting department of member services, it seems like they do not know where to find this information. So, I decided to simply ask the most informed group I know regarding DVC...you guys! Any help would be greatly appreciated.
Best,
Ben

 

[supersnoop]

We just had a long debate about whether you could deduct the taxes if they aren't specifically listed on your closing statement. I can't say we came to a consensus.

On the website, click on the "Condo Association News" option, and then the "Notices" link. The taxes will be listed in the budget.

 

[Tarzan513]

We just had a long debate about whether you could deduct the taxes if they aren't specifically listed on your closing statement. I can't say we came to a consensus.

On the website, click on the "Condo Association News" option, and then the "Notices" link. The taxes will be listed in the budget.

Thank you for the insight and I am not trying to dredge up an old debate. I'll see if I can find the thread and take a read. In regards to you suggestion, I can find the "budget" with estimated taxes for 2015, but do not see where it says what the actual 2015 tax per point came in at. What am I missing? Thanks!

 

[LisaS]

You will find a line item for the Actual Property Taxes paid in 2015 on your 2016 dues statement that you should have received in the mail in late December. You can also look it up online. Just log in to the DVC member website and click on the Annual Dues link. Scroll down that page and click on "View and Print Statement". Scroll down that page and you will find a dues statement. Look for the line item "SSR 2015 Actual Property Taxes" and you will find the total amount paid for calendar year 2015.

 

[Tarzan513]

You will find a line item for the Actual Property Taxes paid in 2015 on your 2016 dues statement that you should have received in the mail in late December. You can also look it up online. Just log in to the DVC member website and click on the Annual Dues link. Scroll down that page and click on "View and Print Statement". Scroll down that page and you will find a dues statement. Look for the line item "SSR 2015 Actual Property Taxes" and you will find the total amount paid for calendar year 2015.

Hi Lisa, Thank you for the great response! I did exactly as you suggested and I only see information related to 2016, which I believe is due to me purchasing resale mid-year last year and the closing agency transmitting the remaining dues balance to DVC at the time of closing (the sellers were paying dues monthly). Essentially, I think I am not going to find it through the DVC membership site. So, if there are any SSR owners out there that are willing to follow LisaS's advice, and can simply tell me the actual tax per point they paid in 2015, I would greatly appreciate it. Thanks Everyone!

 

[supersnoop]

Hi Lisa, Thank you for the great response! I did exactly as you suggested and I only see information related to 2016, which I believe is due to me purchasing resale mid-year last year and the closing agency transmitting the remaining dues balance to DVC at the time of closing (the sellers were paying dues monthly). Essentially, I think I am not going to find it through the DVC membership site. So, if there are any SSR owners out there that are willing to follow LisaS's advice, and can simply tell me the actual tax per point they paid in 2015, I would greatly appreciate it. Thanks Everyone!

So, your supporting information for the IRS will be "someone on the internet told me the amount?" If it's not listed in your closing paperwork, it's likely not deductible.

My 2015 dues statement shows SSR estimated taxes at 1.1447 per point. Which is exactly what the budget says. But, since I purchased in 2014, it doesn't show any credit or charge for any difference between the estimated and actual amount. And I have no way of knowing if the previous owner claimed the full amount on their taxes, which they were legally entitled to do.

 

[LisaS]

OP: If you want to read a few opinions on taking this deduction in your situation, here is the thread that supersnoop mentioned: http://www.disboards.com/threads/property-tax-deduction.3480298/ It's not that long (only 40 posts) and worth a look.

 

[Tarzan513]

So, your supporting information for the IRS will be "someone on the internet told me the amount?" If it's not listed in your closing paperwork, it's likely not deductible.

My 2015 dues statement shows SSR estimated taxes at 1.1447 per point. Which is exactly what the budget says. But, since I purchased in 2014, it doesn't show any credit or charge for any difference between the estimated and actual amount. And I have no way of knowing if the previous owner claimed the full amount on their taxes, which they were legally entitled to do.

Thanks for the help everyone, although snoop's comment seems a bit presumptuous regarding my understanding of tax law... Don't worry snoop I won't be citing this forum for my tax support. Clearly there are differing opinions regarding who is allowed to deduct the dues for a new purchase and I'm siding with the taxes being deductible for me. I wasn't asking for advice, simply for the tax per point. But, I am all set now, thanks for the help.

 

[Dean]

Hi Lisa, Thank you for the great response! I did exactly as you suggested and I only see information related to 2016, which I believe is due to me purchasing resale mid-year last year and the closing agency transmitting the remaining dues balance to DVC at the time of closing (the sellers were paying dues monthly). Essentially, I think I am not going to find it through the DVC membership site. So, if there are any SSR owners out there that are willing to follow LisaS's advice, and can simply tell me the actual tax per point they paid in 2015, I would greatly appreciate it. Thanks Everyone!

Am I reading correctly that you're thinking of deducting the taxes for the dues that were due in Jan, 2015 which would have been for the taxes in 2014? If there were dues paid to DVC at closing mid year 2015, that would have been for the 2015 dues but 2014 taxes and it means the seller was paying them monthly. When you pay them monthly you pay them in arrears instead of paying the full amount in Jan of the PREVIOUS year. The 2015 taxes would have been included in the dues you paid last month or are paying monthly.