I'm trying to determine what timeshare fees are deductible from my taxes this year. If on my statement from the timeshare shows:
Maintenance Fee $1000.00
Property Tax Fee 12.00
Is the $12.00 all I could claim on my taxes as property tax? On the timeshare website it doesn't give any specific information on what the maintenance fee or the property tax fee is.
Thanks for your help in advance
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From this statement, you can claim the $12 as property taxes.
The maintenance fee of $1,000 is not deductible. This is the equivalent of HOA fees for homes.
I know the amount for my timeshare property taxes is $193.74, but Turbo Tax won't let me enter anything. I'm trying to enter it in property tax deductions, other property. Is this the wrong place?
That may be the wrong place.
Please click Federal
Deductions & Credits
Scroll down to "Your Home"
you may need to answer a few yes/no questions to get through
Click "Show more"
Scroll down to "Property (Real Estate) Taxes"
Click Start (or revisit)
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