Taxes

[IluvXU]

Never really thought about the taxes / paperwork that we would need to file. We bought DVC this July. We don't have a loan, so do we need anything for when we file our taxes, either Federal or state?

 

[erionm]

Depending on your tax situation, you might be able to deduct the property tax portion of the annual dues. If you are able to deduct the property taxes, you would need to use the actual property taxes paid from your annual dues statement.

You should contact a qualified tax professional to determine if you are able to deduct the property taxes.

 

[IluvXU]

Thank you. We have our taxes done.. but I wanted to get our info together... and know a bit.

 

[Crystal_27]

You might also be able to deduct the closing costs... Good luck!