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February 6, 2024
Question

I have form 1098 for interest paid on a Time Share. How do I enter this information? We have only made payments, have not used it.

  • February 6, 2024
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February 6, 2024

You can deduct interest on a timeshare if it is deeded and recorded in public records and it meets all the requirements for deducting mortgage interest.

Can I deduct the mortgage interest on a timeshare?

 

To enter form 1098 on your return:

  • Login to your account.
  • Select Federal from the left menu.
  • Go to Deductions and Credits.
  • Select Your Home and scroll down to Mortgage Interest, Refinancing and Insurance.
  • If you get the Home Loan Deduction Summary, select add a lender.

 

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