You can deduct the mortgage interest on a time share if:
1) You own the time
share (you are not renting it),
2) You are treating it as your second home,
3) You
are legally obligated to pay mortgage on the timeshare and the loan is secured.
Here are the steps:
1) Select Federal Taxes from the top menu
2) Select Deductions/Credits (just below Federal Taxes)
3) Click the Edit/Add button next to Mortgage Interest, Refinancing, and Insurance
4) Select Add a Lender and answer the interview questions
Hope this helps.
