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jlmezz52
New Member

Can I deduct the interest if I have a Form 1098 from my Timeshare but Box 8 only says Vacation Ownership Interest and not a physical address?

My timeshare is a Points based timeshare that I can use at any of their properties

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JulieR
Expert Alumni

Can I deduct the interest if I have a Form 1098 from my Timeshare but Box 8 only says Vacation Ownership Interest and not a physical address?

Yes. The following are the rules for deducting mortgage interest on a timeshare property.

https://ttlc.intuit.com/replies/3301121

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3 Replies
JulieR
Expert Alumni

Can I deduct the interest if I have a Form 1098 from my Timeshare but Box 8 only says Vacation Ownership Interest and not a physical address?

Yes. The following are the rules for deducting mortgage interest on a timeshare property.

https://ttlc.intuit.com/replies/3301121

Can I deduct the interest if I have a Form 1098 from my Timeshare but Box 8 only says Vacation Ownership Interest and not a physical address?

This post is old, and the link is not viable. Is the information available somewhere else?

AmyC
Expert Alumni

Can I deduct the interest if I have a Form 1098 from my Timeshare but Box 8 only says Vacation Ownership Interest and not a physical address?

A timeshare can be considered a second home like an RV. Your primary and secondary home mortgage interest is deductible.

 

Qualified Home For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities

from  About Publication 936, Home Mortgage Interest Deduction 

@RussandJill 

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