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Hello, I bought a time share in Las Vegas, Nevada last year. It is a deeded timeshare. Do I need to claim this on my tax return?
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If you are paying mortgage interest or real estate taxes on the deeded timeshare that you use as your vacation home, these are potentially itemized deductions.
To enter these expenses into your tax return:
Open your tax return and click on the Federal Taxes tab;
Select Deductions & Credits;
Click on the I'll choose what I work on button;
Click the Start/Update button next to Mortgage Interest, Refinancing, and Insurance and follow the steps to enter your mortgage interest;
Click the Start/Update button next to Property Taxes and follow the steps to enter your property taxes.
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