☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 2:03:23 AM

Can I deduct the amount my timeshare would have rented for if I donated it to a charity?

I have been told by some that only the portion of the maintenance fee that was for taxes can be deducted which is only 150 dollars

0 1 252
1 Best answer
Level 7
Jun 6, 2019 2:03:24 AM

No, the IRS does not allow a deduction for rent or other income not received.

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


1 Replies
Level 7
Jun 6, 2019 2:03:24 AM

No, the IRS does not allow a deduction for rent or other income not received.

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