tax/interest statement from DVC

[mbw12]

has anyone received their end of year tax/interest statements from DVC? We have two contracts and have not received yet for either of them.

 

[RobDoc]

You should be receiving a 1098(?) for any mortgage interest paid, but will nto get anything showing how much you paid in property taxes - except what was on your dues statement.

 

[mja51]

I'm glad I'm not alone. I still haven't received mine yet either

 

[mom2rb]

I haven't gotten mine yet. Last year I called and they told me over the phone. The next day I got it in the mail, so I am just going to wait a few more days.

 

[Juliet25]

I came here to ask the same question. No, we haven't received ours yet. We refinanced with a HEL, and also haven't received that interest statement yet either.

We're supposed to have them in hand on Jan. 31, right? Or does it just have to be postmarked that day?

 

[pilferk]

I came here to ask the same question. No, we haven't received ours yet. We refinanced with a HEL, and also haven't received that interest statement yet either.

We're supposed to have them in hand on Jan. 31, right? Or does it just have to be postmarked that day?

It needs to be postmarked by that date...just like W-2's.

 

[ton80]

same here no statement yet ?

 

[Mickey527]

I was goinbg to ask the same question but I knew if I did a search someone else would have asked already.
I am waiting because I could really use my tax refund and all I need now is the DVC forms. Peggie

 

[simpilotswife]

If you go to the DVC member site, you can look at your loan transactions for 2006 and add up the amount of interest you paid. At least that is what I did.

 

[DisneyFreaks]

If you go to the DVC member site, you can look at your loan transactions for 2006 and add up the amount of interest you paid. At least that is what I did.

I already did this but I have a stupid question. What exactly do you put down as to who holds the 2nd mortgage? Also how would you use the property tax? I mean is this allowed? What county would you write in?

 

[abk96]

I already did this but I have a stupid question. What exactly do you put down as to who holds the 2nd mortgage? Also how would you use the property tax? I mean is this allowed? What county would you write in?

I'm not sure on this one. My accountant just did ours the other day and he kept telling us that we can't use the interest paid for a tax deduction. He kept saying that we don't really own anything and it's not allowed. I knew I read somewhere that we would be receiving a 1098 so I looked on the dvc member website and sure enough it was there. I just had to prove him wrong. Even after I showed him he said, "Okay, but I don't know what Disney did to be able to do this".

I didn't do anything with the property tax, only the interest from our loan with Disney.

 

[SmileMom]

I was just sitting here working on my taxes and thought, "Hmmm, where are those DVC tax statements. Didn't I see them earlier this month?" Rather than tear my desk apart looking for them, I knew I could find the answer here. Bingo!

I wish I could add up how much time I save by using the DISBoards. It is just a plethora of information.

 

[salmoneous]

My accountant just did ours the other day and he kept telling us that we can't use the interest paid for a tax deduction. He kept saying that we don't really own anything and it's not allowed.

Don't own anything??? Has he seen your deed? Does he understand why you are appropriated property tax for property you DON'T own?

 

[pilferk]

I'm not sure on this one. My accountant just did ours the other day and he kept telling us that we can't use the interest paid for a tax deduction. He kept saying that we don't really own anything and it's not allowed. I knew I read somewhere that we would be receiving a 1098 so I looked on the dvc member website and sure enough it was there. I just had to prove him wrong. Even after I showed him he said, "Okay, but I don't know what Disney did to be able to do this".

I didn't do anything with the property tax, only the interest from our loan with Disney.

It's considered a timeshare vacation home, even though the way Disney implements it is a bit non-traditional (points, rather than specific weeks). Therefore, the loan you're taking out is considered a mortgage for that vacation home, and, as long as you meet certain (liberal) criteria, and are financing through the DVC, you can deduct the interest. You DO own something...a stake in the building/facilities.

I've confirmed this with our tax prep people, as we'll be making a purchase at AKV this year, and I wanted to be triple sure before we went full steam ahead.

 

[Newcastle]

We received ours in the mail a couple of days ago but unfortunately, we are not able to use this as a deduction here in Canada!

 

[mja51]

Well today is Feb 1st so we should be receiving the statements any day now

 

[ansky922]

I am waiting for mine as well

I was getting nervous and just coming onto the boards knowing I am not the only one waiting made it a little easier

 

[DisneyFreaks]

The postman just left and still nothing today. Our taxes are all prepared. We're just waiting on DVC. Soon I hope.

 

[mja51]

I just received an e-mail from member services which stated they were mailed out yesterday. They also provided me with the amount of interest I paid. I totaled the amount myself from the dvc website and that matched the amount member services gave me. So that is an option if you don't want to wait

 

[DisneyFreaks]

Received ours on friday. Hopefully you all did as well.