You can deduct property taxes on property that you own, if the taxes are assessed against you. Depending on how the timeshare is organized, if you are the owner of a share of a company, or if you are the owner of a right to use property, but the taxes are not actually assessed against you, they may not count as deductible property taxes. You may need legal assistance to review your contract or deed.
Mortgage interest is only deductible if the loan is secured against the property itself, so that you could lose the property if you stopped making payments. The loan must be “perfected“, this usually means that it must be recorded with the county clerks office. Again, a loan from the timeshare company may or may not count as a mortgage. And if you borrow any other money to buy a timeshare, such as a personal loan, credit cards, or borrowing from an investment fund, that is definitely not a deductible mortgage.
There are no special tax breaks to be had when you withdraw money from an investment account, a pension, an IRA, or anything else, no matter what you do with the money after. You withdraw the money and pay the taxes. Then, anything else that you do with the money is separate.
