Any recommended Tax services that are familiar with Dvc?

[DianaMB333]

Hi
This year I have made transactions with my DVC (sold a contract and rented out points)… therefore I would have to include this info in the upcoming tax filing in 2023, and I wonder if there are any Tax services that you have used that are familiar with DVC concepts?
Thanks!

Ps. i live in Texas

 

[Travel60]

Any tax person should be able to handle this. These are normal real estate transactions. Gain or loss on sale. Rental income less applicable expenses.

 

[DVC Doctor]

Agreed, this is simple math for any accountant.

 

[DianaMB333]

Are the dues part of the deductions right?
Thanks!

 

[MICKIMINI]

I use turbotax.com.

There is a section for short term rentals where I put my DVC rentals. I don't take a chance and just enter what I am paid for the rental.

Capitol gains is where you enter your DVC sale. Both are pretty easy as long as you have your original paperwork, a big pot of coffee and no distractions!

I'm not an accountant. YMMV. Good luck!

 

[supersnoop]

Are the dues part of the deductions right?
Thanks!

Dues can offset rental income, but only the capital reserves portion of the dues are used to adjust the cost basis when selling.

 

[TAX GUY]

Please find a licensed professional, not just "any tax preparer". More times than I'd like to mention, we are fixing what others tried to do (either paid preparers or self prepared with off the shelf software).

 

[Phatscott25]

Tell me about it. I'm a CPA myself and know exactly what you mean.

 

[bumbershoot]

Agreed, this is simple math for any accountant.

This is also something for anyone who reads through the tax booklet and instructions for the various schedules, IMO.