tax deduction

[lnb1230]

Has anyone ever used part of their purchase as a tax deduction? Does anyone know any tax implications with becoming a member? I am trying to come up with ways to build my case to the hubby!

 

[dianeschlicht]

The portion of your maintenance fees that go for property tax is deductible. If you pay with a home equity loan, that interest is also deductible.

 

[BigDisneyKids]

As of last night (Thurs.), our MS told us that when financed through Disney, the loan is written up and deeded as a 2nd home and the interest is fully deductable.

Can anyone advise of anything different???

 

[boardwalk prof]

We've been owners since 1999 and financed through Disney. We have been deducting our RE taxes and the interest paid. Disney will send you a 1098 "Mortgage Interest Statement" in January of each year.

 

[jmminarik]

Of course, if you already own two homes, buying DVC probably won't get you another deduction. Taking the interest on this is something I believe depends on your individual tax situation (i.e. talk to some one who makes a living off the complexity of our tax system). However, any property tax is fully deductable.

-Joe