A question about taxes

[sleepyone]

Are you able to claim the interest you paid on your "home" away from home on your income taxes? Does it vary state to state? If so, are there any Texans who can answer this question?

 

[drusba]

Interest on your loan from Disney is generally deductible. That is a federal tax thing not a state tax thing and states just follow the fed on that one. There are exceptions, among which are: (a) if you own another vacation home, you usually can deduct only 1; (b) if you have some other kind of loan which is not secured by your interest in the property, it may not be deductible; that can happen with resales and some get a personal loan from a timeshare lender that is not secured by the property.

 

[Alphatexana]

As dsruba pointed out, this is a federal tax issue. Besides, Texas doesn't have a state income tax (yeah!) so the only deduction you would be concerned about receiving would be federal anyway.