DVC tax question

[TandyR]

Do we get a statement saying how much of our dues were taxes for income tax reasons? I don't remember from last year and I can't find our copy of the dues statement so I am hopeing that was the only thing we get with it. Thanks for the help.

 

[PamOKW]

The dues statement that you got in December will give the actual real estate tax amount paid for 2002. This is the only place DVC breaks out the actual tax. That is the portion of dues that you may be able to deduct.

If you are paying off your purchase with DVC, you may also be able to deduct the interest. DVC mailed statements with that amount this month and you should receive it by today. If you don't, I'd call Member Accounting next week.

 

[RobDoc]

You will not get a 1099, but the amount you paid for property taxes in 2002 is on the dues statement received in Dec.

If you have financed thru DVC you will get a 1098 showing the interest paid on your mortgage.

 

[imgoingtodisney]

DH was shocked when he saw we paid over $500 in interest on the loan last year