Getting ready to do tax returns - am I missing something from DVC?

[luckytso]

I just downloaded Turbotax and ready to do my tax returns. I realized that I did not get anything from DVC. I bought into DVC last June, should I be getting a statement regarding the real estate taxes that I paid out of the total maintenance?

Thanks

 

[RobDoc]

The taxes paid were listed on the billing statement you received in December.

You should have received a 1099 if you paid mortgage interest, but otherwise will get no other tax information.

 

[luckytso]

Thanks Doc. I will go back to check that.

Another question, what about for resales, when you reimburse the seller for the maintenance fees, where should you get the breakdown between maintenance and tax (I will double check my resale contracts, but I don't remember seeing any breakdown)?

 

[RobDoc]

You'll probably need to get the exact figures from the seller- since they paid the maintenance fees.

It may still be on the Dec. statement also.

If not- you can get the actual tax per point from Member Accounting and multiply by the number of points. You'll want enough information to justify any claim to the IRS- should they decide to challenge it.

 

[luckytso]

Thanks again, Doc. I really appreciate it.

 

[Dean]

Member accounting can give you the figures if you need them. Just email MS and they can forward to accounting.