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L
lawre2000
April 18, 2022
Question

We purchased a timeshare in 2021 and didn't use it for personal use. My understanding is that we can treat the timeshare as either a second home or investment property?

  • April 18, 2022
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1 reply

V
Vanessa A
April 18, 2022

Yes, a time share can be considered a second home, however, unless you are paying interest on a loan for the time share you will not get a deduction for the fees paid. 

 

When you sell the timeshare, that is when you would enter it as sale of home or investment property depending on how you treated it. 

 

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L
lawre2000Author
April 18, 2022

Thanks!  If I classify as a real estate investment, I should be able to deduct any maintenance fees in the current year though, correct?

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