New to DVC- Taxes?

[ryan840]

We usually use Turbo Tax for our taxes, can we still now that we own our contract? What do we need to gather to proceed? Thanks!!

 

[erionm]

For property taxes, you would need your annual statement. The property taxes would be included where you enter personal taxes paid.

If you financed with Disney, they will send you a Form 1098 for the mortgage interest.

As to if you can deduct any of this, you should contact a tax professional.

 

[Disney-Kim]

I use my annual statements which just came in the mail last week.

 

[ryan840]

We paid cash, so do we just need to do the property taxes and that's it? Sounds easy enough... (Famous last words, right?) DH does the taxes so it's easy for me no matter what. Thanks!

 

[erionm]

We paid cash, so do we just need to do the property taxes and that's it? Sounds easy enough... (Famous last words, right?) DH does the taxes so it's easy for me no matter what. Thanks!

Since you didn't finance, there would be no mortgage interest that you could deduct.

You may be able to deduct the property tax portion of the annual dues. As I said previously, check with a tax professional to determine if you can.