Will our purchase of DVC hurt us on taxes?

[disynut]

Just getting ready to take our taxes in, we bought a resale last February, and are wondering if it will hurt us on our taxes? Seeing that 9,500 purchase on our yearly summary that I do of our purchases is kind of scary!

Thanks!
Jen

 

[TnRobin]

I am not sure of your particular situation, but I cannot see how a purchase will hurt you on your taxes. (Unless you pulled money from an IRA to do it)

Actually you will gain at least one deduction from this. You will be able to deduct the portion of your dues used to pay property taxes. In addition, if you used a home equity loan to finance any portion of the purchase, the interst on this loan may be deductable.