tax statement?

[Lady V]

Hey-not sure if this is the right board for this but please move if not. When do we normally get our DVC statement about mortgage interest? It seems like Feb but I am not sure and was just hoping someone could clarify for me. thanks so much.

 

[kritter]

WE have not gotten ours either?????????!!!!!!!!!!

 

[msabol01]

Neither have we. Is it available online?

 

[kritter]

NOt sure my DH Is checking into it right now!!!!!!!!!!!!!!!!!!

 

[emlutz23]

I called MS the other day about this and the Member Financing line has a pre-recorded message saying that 1098 forms will be mailed by Jan 31st.

 

[capecoddisneyfamily]

I believe all tax items have to be postmarked by 1/31.

 

[macman752]

Our statement arrived in today's mail. It was postmarked 1/28 and mailed from central Florida.

 

[ldo]

I did not think that this could be deducted from taxes.

 

[GusMan]

I did not think that this could be deducted from taxes.

Maybe... Maybe not. Best thing to do is to talk to your tax adviser as to if it can be deducted.

 

[emlutz23]

I did not think that this could be deducted from taxes.

We deduct the interest paid just like the mortgage interest we deduct for our home. DVC is kind of considered a second home. At least, that's how I understood it from our tax preparer. Like the previous poster wrote, talk to a tax professional to see what you can and cannot deduct.

 

[chrome64]

I got mine in the mail today.

What amount are we allowed to claim for Property taxes?

I remember this question being brought up last year and I think it was up to a certain amount that you could claim.

I think it is somehow included in the annual dues.

Any one have a quick answer?

 

[ExecChef]

I did not think that this could be deducted from taxes.

Yes you can it is just like a mortgage payment, at least it is in WI, it is on the intrest I think?

 

[ldo]

[From another timeshare website]

A few owners can deduct the interest expense on a timeshare loan. The interest is deductible only if the loan is secured by the timeshare as a mortgage and you deduct no other mortgage interest except on your primary home. Note that most timeshare loans don't qualify because they are written as consumer loans rather than as mortgages. [nice that DVC is a mortgage].

We never financed any of our TS, but nice to know for add-ons at DVC!

 

[RobDoc]

I got mine in the mail today.

What amount are we allowed to claim for Property taxes?

I remember this question being brought up last year and I think it was up to a certain amount that you could claim.

I think it is somehow included in the annual dues.

Any one have a quick answer?

The amount paid in 2007 for property taxes was listed on your dues statement. You will not get any "official" statement from DVC or from the County, so you will need the info specific for your contract.

Members with a mortgage from DVC wil receive a 1099-INT reporting interest paid in 2007. These are usually mailed on 1/31 each year. I'd still check with your tax professional to make sure you are eligible for the deduction.

 

[JaxFLBear]

Members with a mortgage from DVC wil receive a 1099-INT reporting interest paid in 2007. These are usually mailed on 1/31 each year. I'd still check with your tax professional to make sure you are eligible for the deduction.

Not to be pickey, but the mortgage interest is form 1098.

 

[disneynutz]

I never thought that I would live to see this day. WebmasterDoc makes a mistake!

 

[dizzneebabe]

Did anyone else receive their 1098? We are in Chicago and still do not have it. Our accountant is coming by tonight and I was really hoping to have it. I looked on the member site and although I could add up the $$ manually, why don't they have a statement for convenience online? Or am I missing something?

 

[TMB1203]

I got mine yesterday. I'm in the northern burbs of Illinois.

 

[emlutz23]

I got mine here in OH on 1/31 and it was postmarked 1/28.

 

[medalla74]

We got ours yesterday in Plainfield IL