I purchased a timeshare through wyndham. Since we bought a portion of the property is there a tax break there? Should I be looking out for a tax form from them?

Forum|Forum|6 years ago
June 1, 2019
1 reply
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This isn't a second property for us. This is the only property we own. I don't know if that makes a difference.

TurboTax Deluxe Online

LindaA

Employee

If you are only using the timeshare for personal use, you may deduct the real estate taxes (property taxes) paid if you itemize deductions (Schedule A). You'll need some type of documentation showing the taxes you paid, such as a tax bill from the town where the timeshare is located. If you financed the sale with Wyndham, they may indicate the taxes paid on a Form 1098, Mortgage Interest Statement. You may also be able to deduct the mortgage interest on your tax return. See the FAQs below for more information, including instructions for how to enter your real estate taxes in TurboTax.

Can I deduct real estate tax? https://ttlc.intuit.com/replies/3300663

Can I deduct the mortgage interest on a timeshare? https://ttlc.intuit.com/replies/3301121

Where do I enter the real estate taxes I paid? https://ttlc.intuit.com/replies/4793197

rpcook

What if the Wyndham package you bought was not deeded at a particular property? We have the “Select” status which means we are not tied to a particular property.