Federal tax deduction for DVC real estate taxes?

[JPC]

The search function is no workie tonight. Is there a DVC real estate tax deduction and if so where is the amount? Did DVC provide us with the amount?

 

[JimMIA]

Yes. If you itemize, you can deduct the amount of property tax you paid. It is shown as a separate item on your maintenance fees.

 

[dcfromva]

The search function is no workie tonight. Is there a DVC real estate tax deduction and if so where is the amount? Did DVC provide us with the amount?

JPC

The statement info is actually availble on-line, if you log into your DVC account.

Keep in mind that you most likely only paid the 2005 estimate amount in 2005.



"Topic 503 - Deductible Taxes

There are four types of deductible non–business taxes:

* State, local and foreign income taxes;
* Real estate taxes;
* Personal property taxes; and
* State and local general sales taxes, if you elect not to deduct state and local income taxes.

To be deductible, the tax must be imposed on you and must have been paid during your tax year."
link to the tax topic

HTH
-DC