What part of Dues are Tax Deductible?

[pklein09]

We bought at VWL in Oct 2001 and are using it for the first time in about 7 weeks!!! Yeah!!! I've been reading the posts and I've seen something mentioned on a few about part of the dues being tax deductible. Can someone help me out on this one? I'd love to deduct anything I possibly can. Many thanks!!!

 

[Lew]

Real estate taxes...

 

[pklein09]

Thank you!!! I should have known that....

 

[jel0511]

pklein09 - just wanted to say hi from another DVC member, I'm in Princeton!!

 

[cdorval]

How do you know how much of your dues go toward taxes, (for deduction purposes), if DVC doesn't send you any documentation on the taxes paid, (I'm assuming they don't since I joined last fall, paid dues, and never received any tax-like correspondence)?

 

[RobDoc]

When you get your new dues statement, it will show what the actual tax rate for the previous year was (each year the property taxes are estimated and a credit (or debit) issued for any changes to that projection. The amount will vary by resort owned.

Thus far, we have always overpaid the property taxes each year and have received a credit towards the next year as a result.

The actual property taxes paid will be itemized on a per point basis- just mulitply by the number of points you own. You will not receive a separate notice for this. You should also check with your tax advisor to discuss how this applies in your individual situation.

Enjoy!