Sold points and now my yearly dues statement is wrong

[jekjones1558]

We recently sold 2 BWV contracts. We paid the 2016 dues on both of the contracts. Today I received the annual dues statement and the amounts listed are only for the points that we still have. I use this statement to document property taxes paid when we file our federal taxes. Can MS send me a different statement that includes the points we sold or should I use the rate listed on the statement I received and just compute on my own the amount of taxes we paid so that it includes the 2016 taxes we paid for the sold points?

 

[Disney Dad ADL]

When you look at the Annual Dues screen and then click on the "View Statement" box, you get to the "Annual Dues Statement" page. There is a drop down box in the upper right for each membership ID that says "Statement Year: 2017". Can you change it to 2016 to view your 2016 statement?

 

[jekjones1558]

When you look at the Annual Dues screen and then click on the "View Statement" box, you get to the "Annual Dues Statement" page. There is a drop down box in the upper right for each membership ID that says "Statement Year: 2017". Can you change it to 2016 to view your 2016 statement?

The 2016 statement only gives estimated taxes, not actual. I need actual for the IRS. Both the 2017 online statement and paper one I received today have actual but don't include the 2 contracts I sold.

 

[Disney Dad ADL]

The 2016 statement only gives estimated taxes, not actual. I need actual for the IRS. Both the 2017 online statement and paper one I received today have actual but don't include the 2 contracts I sold.

I see. Well, I guess you'd have to call Disney. Or if you paid the full MFs for 2016 and the amount did not change, maybe the preliminary statement is good enough (since you did pay that amount after all). If the number on there is accurate, I doubt the IRS would come after you for not having the "final" one (though I am no accountant).

Sorry I'm not much help.

 

[jekjones1558]

I see. Well, I guess you'd have to call Disney. Or if you paid the full MFs for 2016 and the amount did not change, maybe the preliminary statement is good enough (since you did pay that amount after all). If the number on there is accurate, I doubt the IRS would come after you for not having the "final" one (though I am no accountant).

Sorry I'm not much help.

Actually, you are a help. I think I will use the 2016 estimated, since that is what I paid.

 

[LisaS]

The actual property taxes for BWV were a tiny bit higher than the estimate. Here are the actual figures:

• Estimated 2016 Property Taxes: $1.2432 per point
• Actual 2016 Property Taxes: $1.2482 per point
• Additional amount due in 2017 dues for 2016 property tax shortfall: half a penny per point.

 

[jekjones1558]

The actual property taxes for BWV were a tiny bit higher than the estimate. Here are the actual figures:

• Estimated 2016 Property Taxes: $1.2432 per point
• Actual 2016 Property Taxes: $1.2482 per point
• Additional amount due in 2017 dues for 2016 property tax shortfall: half a penny per point.

Thanks, Lisa. I saw that so I can compute the correct amount. But since the difference is so small I think I will just go with the estimated tax, since that is what I actually paid. I am just a little surprised that my statement is not correct. I wonder if the new owners of the contracts I sold got statements indicating that they paid the 2016 dues, which they did not.

 

[johnsgrl]

I wonder if the new owners of the contracts I sold got statements indicating that they paid the 2016 dues, which they did not.

I can answer that part, I think. I bought resale last year and the estimated taxes from 2016 dues were too high so members got a credit for the overpayment. I was waiting on my statement to see if the credit appeared and there was no mention of 2016 dues or taxes. I can only hope that they refunded the seller for his overpayment.

 

[jekjones1558]

I can answer that part, I think. I bought resale last year and the estimated taxes from 2016 dues were too high so members got a credit for the overpayment. I was waiting on my statement to see if the credit appeared and there was no mention of 2016 dues or taxes. I can only hope that they refunded the seller for his overpayment.

Thanks for the info. I am kind of surprised that this glitch in the system exists. There have to be hundreds, maybe thousands, of DVC contracts sold each year. You would think that the computer could be programmed to spit out correct info.

 

[DebbieB]

The actual was slightly higher. Would the new owner have to pay the difference since they now own the contract?

 

[jekjones1558]

The actual was slightly higher. Would the new owner have to pay the difference since they now own the contract?

I have no idea. Good question.

 

[DenLo]

The actual was slightly higher. Would the new owner have to pay the difference since they now own the contract?

Yes, the new owner is now responsible for the additional taxes as they own the property.