Tax question (it is after April 16th!)

[Jhalkias]

2001 will be our first year of DVC ownership, so for all of you that have already filed your taxes for 2000, what part of DVC costs are deductible? Mortgage interest? Taxes? Maintenance assesments? Anything else?

PS - Don't worry, I won't rely on your response as a legal opinion!

1996 Contemporary & Poly
1998 Yacht Club & WLodge
1999 Contemporary
2000 Dixie & Bch Club
2000 Wonder 3 Night
2001(May) Villas W Lodge
2001(May)Wonder 4 night

 

[eva]

The interest is normally tax deductible if you financed through DVC or borrowed against your house. The only portion of the dues that are tax deductible are the land taxes. I know that there is some rule about claiming on more than 2 properties. So if you own more than one other piece of property besides DVC you might talk to a tax professional.