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posted Mar 3, 2023 12:33:08 PM

I have a Wyndham timeshare loan (their "Access" contract type). I have a 1098 for the loan, can I deduct that on my taxes?

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1 Replies
Expert Alumni
Mar 3, 2023 12:48:18 PM

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.

You can claim Mortgage interest on a maximum of two homes (main home and a second home)

 

For more information please check: Can I deduct the mortgage interest on a timeshare?

 

To enter form 1098 form 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.