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teemo92
New Member

Do i add a timeshare purchase in 2023 and it still has a current loan?

 
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1 Reply
MonikaK1
Expert Alumni

Do i add a timeshare purchase in 2023 and it still has a current loan?

If you purchased a timeshare in 2023, and you still own it, the only things you would typically report on your tax return, unless you rent out your use week(s), would be interest paid, if the loan was secured by the property and you are designating it as your second residence, and property taxes paid if they are part of your annual costs. 

 

See this help article for more information about the qualifications for deducting timeshare interest. If qualified, you would enter it as an itemized deduction under Deductions and Credits.

 

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