Can I claim the deposits I made last year when purchasing my timeshare? I received a 1098 form but there's no amount in box 10 and I had to pay the deposits up front.

Angelica — Wed, 05 Jun 2019 19:01:33 GMT

You can deduct mortgage interest, points, and real estate...

jerry2000 — Wed, 05 Jun 2019 19:01:35 GMT

You can deduct mortgage interest, points, and real estate property tax paid at closing. You report those expenses along with other mortgage interest/property taxes paid in the year at
Federal Taxes (or Personal if using Home and Business)
Deductions And Credits
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My Home

All other costs paid at closing, including transfer taxes, "stamps", escrow fees, etc., are NOT deductible from current income, instead you add them to the cost basis of your home and you will get the benefit when you sell.

Thank you very much!

Angelica — Wed, 05 Jun 2019 19:01:35 GMT

Thank you very much!

topic Can I claim the deposits I made last year when purchasing my timeshare? I received a 1098 form but there's no amount in box 10 and I had to pay the deposits up front. in Deductions & credits

Can I claim the deposits I made last year when purchasing my timeshare? I received a 1098 form but there's no amount in box 10 and I had to pay the deposits up front.

You can deduct mortgage interest, points, and real estate...

Thank you very much!