Hi all... I have a question on Real Estate taxes on DVC.
I have owned at HHI since 2000 and since I only owned my primary residence and that one timeshare, I have always deducted the real estate tax portion of the annual dues fees from my Federal taxes.
In 2008, my father deeded his OKW membership over to my brother and me. Since it is titled differently than the pre-existing HHI membership, I get two different maintenance bills.
My question is this: when you own multiple timeshares, can you deduct the RE tax portion of all of them from your federal taxes, or can you only choose one of them to use - similar to only being able to deduct the taxes from your primary residence and a single vacation home.
It's not a big deal if I can't deduct it. The RE Tax portion of the dues is fairly small, and I will just let my brother deduct all of the OKW taxes, but if I can deduct it I will... every little deduction helps at tax time.
Thanks.
Ted
I have owned at HHI since 2000 and since I only owned my primary residence and that one timeshare, I have always deducted the real estate tax portion of the annual dues fees from my Federal taxes.
In 2008, my father deeded his OKW membership over to my brother and me. Since it is titled differently than the pre-existing HHI membership, I get two different maintenance bills.
My question is this: when you own multiple timeshares, can you deduct the RE tax portion of all of them from your federal taxes, or can you only choose one of them to use - similar to only being able to deduct the taxes from your primary residence and a single vacation home.
It's not a big deal if I can't deduct it. The RE Tax portion of the dues is fairly small, and I will just let my brother deduct all of the OKW taxes, but if I can deduct it I will... every little deduction helps at tax time.
Thanks.
Ted
