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wrgirlsd
New Member

Do I add the closing costs with the interest of time share purchase?

I received a 1098 for interest on a time share purchased 3/26/16.  Do I add the closing cost anywhere?
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1 Reply
Anita01
New Member

Do I add the closing costs with the interest of time share purchase?

No, the interest, property tax, and any PMI are deductible.  Closing costs are generally added to your cost basis to use in calculating gain or loss when you sell.

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