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Where do I claim maintenance fees from a timeshare?

 
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Where do I claim maintenance fees from a timeshare?

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

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6 Replies

Where do I claim maintenance fees from a timeshare?

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

Where do I claim maintenance fees from a timeshare?

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.

bali43
New Member

Where do I claim maintenance fees from a timeshare?

the question wasn't answered: Where or what form Not if is deductible

JeffreyR77
Expert Alumni

Where do I claim maintenance fees from a timeshare?

If you rent your timeshare out, you can deduct your maintenance fees on Schedule E for the period it is rented out. 

 

If your timeshare is solely a vacation property, the maintenance fees are not deductible anywhere on your individual income tax return. 

 

Expensing Business Property  Can I Deduct Maintenance Fees for a Timeshare?

Mad3759
New Member

Where do I claim maintenance fees from a timeshare?

Where on schedule e ? So I deduct the fees from the income received ? 

AmyC
Expert Alumni

Where do I claim maintenance fees from a timeshare?

Sch E line 8 is for commissions and fees. Cleaning and maintenance is line 7, taxes line 16. You should have a breakdown of your fees from the Timeshare. See also:

 

IRS Pub 527 for Rental Property

About Schedule E (Form 1040), Supplemental Income and Loss

 

 

 

@Mad3759

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