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Level 1

Solved

Where do I claim maintenance fees from a timeshare?

Forum|Forum|7 years ago
June 5, 2019
4 replies
12 views

No text available

TurboTax Deluxe Online

Best answer by Marketstar

For a timeshare, only mortgage interest and property taxes are deductible. To be deductible, the loan must be secured by the property.

Maintenance and other assessments are not deductible

MarketstarAnswer

Level 12

For a timeshare, only mortgage interest and property taxes are deductible. To be deductible, the loan must be secured by the property.

Maintenance and other assessments are not deductible

Level 12

For a timeshare, only mortgage interest and property taxes are deductible. To be deductible, the loan must be secured by the property.

Maintenance and other assessments are not deductible.

Level 2

the question wasn't answered: Where or what form Not if is deductible

Level 10

If you rent your timeshare out, you can deduct your maintenance fees on Schedule E for the period it is rented out.

If your timeshare is solely a vacation property, the maintenance fees are not deductible anywhere on your individual income tax return.

Expensing Business Property Can I Deduct Maintenance Fees for a Timeshare?

Level 2

Where on schedule e ? So I deduct the fees from the income received ?

Level 15

Sch E line 8 is for commissions and fees. Cleaning and maintenance is line 7, taxes line 16. You should have a breakdown of your fees from the Timeshare. See also:

IRS Pub 527 for Rental Property

About Schedule E (Form 1040), Supplemental Income and Loss

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