topic Do I say YES, to the question "Do you own a home?" if I have a timeshare? in Deductions & credits

Do I say YES, to the question "Do you own a home?" if I have a timeshare?

pwdrbluangel — Tue, 10 Feb 2026 09:20:23 GMT

I do not own a home, I have rented mine for the last 7 years. I do have a timeshare though. This is my first year filing while owning it, so I am not sure if it would be considered owning a home. I have not actually stayed at it yet either. Would I answer YES when they ask "Do you own a home?" ?

Re: Do I say YES, to the question "Do you own a home?" if I have a timeshare?

Mike9241 — Sun, 28 Jan 2024 03:44:25 GMT

the reason for the question is that if you enter yes Turbotax will ask questions about mortgage interest and taxes

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 by the property

Re: Do I say YES, to the question "Do you own a home?" if I have a timeshare?

xmasbaby0 — Sun, 28 Jan 2024 04:52:28 GMT

TIME SHARE

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/deduct-mortgage-interest-timeshare/L1E262cio_US_en_US?uid=llvgwbhk

Re: Do I say YES, to the question "Do you own a home?" if I have a timeshare?

SevenRedP — Wed, 28 Jan 2026 02:03:16 GMT

Can I deduct the interest income from a 1098 on my taxes as a "second Home"? I've read yes, maybe ( depends on if it's a "Rent To Use"), and no (IRS considers a timeshare as personal property like a boat or a car). How am I supposed to know if I can or not? I would assume that, since I got a 1098, I can declare it.

Re: Do I say YES, to the question "Do you own a home?" if I have a timeshare?

MarilynG1 — Wed, 28 Jan 2026 02:54:20 GMT

Yes, you can deduct the mortgage interest reported on Form 1098 for your timeshare, if you meet the qualifications.

Here's more detailed info on Mortgage interest on Timeshares.

@SevenRedP