taxes

[Tigger2ntinkerbell]

do you pay taxes on the income from renting your points. Have not rented ours yet and was wondering?????? Thanks

Tigger2ntinkerbell@hotmail.com

 

[PamOKW]

There are some tax implications. I saw an article recently but I forget the details. Especially if you are going to regularly rent points, I'd contact a tax expert for advice.

 

[PamOKW]

Here's a start from the IRS web site.

If you use the dwelling unit as a home (based on degree of personal use) and you rent it for fewer than 15 days during the year, do not include any of the rent in your income and do not deduct any of the rental expenses. If you do not meet the tests for using your timeshare as your home, the income is reportable on Form 1040, Schedule E (PDF), Supplemental Income and Loss