tax statement?

[MandM22]

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?

We got ours yesterday also... I hope you get yours before your accountant stops by.. Good Luck.

 

[maskw03]

We just got ours 2 days ago.

 

[Lady V]

got mine in Tennessee yesterday 1/31

 

[dizzneebabe]

Thanks--that gives me hope that it will come today!

 

[sjdisneywedding]

[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!

ok, so if you own 2 contracts and received 2 1098's for interest for the year, can they be combined and claimed?

would that be considered 2 second homes or still one?

of course, all the consult a tax pro being obvious, just curious as to what people would assume to be correct

 

[Blahnde]

ok, so if you own 2 contracts and received 2 1098's for interest for the year, can they be combined and claimed?

would that be considered 2 second homes or still one?

of course, all the consult a tax pro being obvious, just curious as to what people would assume to be correct

I will start by saying that this is only my opinion and not intended as tax advice!

I look at it as ONE "second home" with 2 caveats:

1) Do you have one member number?
2) Is it possible to make one reservation using all your points? Not did you, but could you have done this?

If you can answer a resounding "Yes," then I say it is one "second home." If you cannot answer "Yes" to both these questions, then I would say you have multiple "second homes."

And as someone who owns multiple contracts at multiple resorts I can tell you that I only get one 1098. To me that is another confirmation that it is ONE "second home."

But PLEASE, PLEASE, PLEASE ask your tax professional!

Blahnde

 

[sjdisneywedding]

[SIZE="2

But PLEASE, PLEASE, PLEASE ask your tax professional!

Blahnde[/SIZE]

yep yep, always but just interesting to start the thought process on it

thanks

 

[Judique]

I will start by saying that this is only my opinion and not intended as tax advice!

I look at it as ONE "second home" with 2 caveats:

1) Do you have one member number?
2) Is it possible to make one reservation using all your points? Not did you, but could you have done this?

If you can answer a resounding "Yes," then I say it is one "second home." If you cannot answer "Yes" to both these questions, then I would say you have multiple "second homes."

And as someone who owns multiple contracts at multiple resorts I can tell you that I only get one 1098. To me that is another confirmation that it is ONE "second home."

But PLEASE, PLEASE, PLEASE ask your tax professional!

Blahnde

In the past, when I've had a loan, I have received multiple 1098's, one for each DVC property mortgage. I originally owned at 4 resorts.

 

[Disneyjamie]

I still have not received mine. Think I will go and manually add up the interest paid...

 

[magicbride2b]

Mine has not come yet either, maybe Michigan will be Monday

 

[goofyboyzmom]

Got ours in Michigan yesterday.

 

[kevins]

Hi all,

So I was trying to find some closure to this thread regarding the taxes and DVC.

I did receive a 1098 form and the amount on their must be reported to the IRS, correct?

 

[kevins]

Hi all,

So I was trying to find some closure to this thread regarding the taxes and DVC.

I did receive a 1098 form and the amount on their must be reported to the IRS, correct?

I wanted to also add that, no real estate taxes were reported on this form and I do not recall receiving a statement from disney with a summary of taxes paid throughout the year. I did however check my account online and found the amount that I had paid in taxes.

Bear with me on these questions, this is my first full year of being a DVC member.

 

[JaxFLBear]

Hi all,

So I was trying to find some closure to this thread regarding the taxes and DVC.

I did receive a 1098 form and the amount on their must be reported to the IRS, correct?

I wanted to also add that, no real estate taxes were reported on this form and I do not recall receiving a statement from disney with a summary of taxes paid throughout the year. I did however check my account online and found the amount that I had paid in taxes.

Bear with me on these questions, this is my first full year of being a DVC member.

The 1098 is your mortgage interest paid to Disney. Other than your annual dues statement, Disney does not send you what you paid in property taxes.

Depending on your tax situation, the mortgage interest and/or property taxes may be deductible.