DVC and taxes

[coastiewifern]

Is there anything such as dues or a portion we pay on taxes that is a tax deduction?
Please advise

 

[Dean]

Is there anything such as dues or a portion we pay on taxes that is a tax deduction?
Please advise

Real estate taxes are deductible as is interest if you have a mortgage (which DVC does). For those that got the loan through their bank, interest likely isn't deductible unless it's a HELOC. For those that also have a vacation home may not be able to deduct interest either.

 

[saintstickets]

Is there anything such as dues or a portion we pay on taxes that is a tax deduction?
Please advise

The property tax portion of your annual maintenance fees are deductible IF you itemize on your Federal return. They are deducted on Schedule A. Only the property tax portion is deductible and only if you itemize. For your State return, each State is different but most States follow the Federal regs for deductibility of property taxes paid. Your maintenance fee invoice will detail the amount attributable to property taxes.