Disney financing

[njmeisje]

Forgive me if this is an FAQ.....Is financing thru Disney considered a mortgage loan, and therefore tax deductable (ie interest that is)?? I learned from TTS that their financing is not.

Thanks!!
Diane

 

[emlutz23]

We financed our points through Disney in 2006 and we were able to deduct the interest paid for the tax year 2006!

 

[njmeisje]

thanks so much

 

[RobDoc]

You should always check with your tax advisor for the "real" answer for your specific situation. DVC financing will be a mortgage and therefore decuctible in certain situations. The financing available for most other timeshare purchases is NOT a mortgage and, as such, probably not deductible in most situations.

Again, check with your tax professional regarding your situation before making any decision.

Enjoy!

 

[Bibbidi]

You should always check with your tax advisor for the "real" answer for your specific situation. DVC financing will be a mortgage and therefore decuctible in certain situations. The financing available for most other timeshare purchases is NOT a mortgage and, as such, probably not deductible in most situations.

Again, check with your tax professional regarding your situation before making any decision.

Enjoy!

Unless you use a home equity line of credit to purchase the timeshare and generally the interest you pay on your HELOC is tax deductible.