Joint ownership of Timeshare

[rdehne]

We purchased a Timeshare last year and have joint ownership - and file separately. 

Can I take the deduction for maintenance fees, interest, and property taxes since I pay all of the fees?

[LindaS5247]

Yes, you can take the deduction. In general, the person paying the expense gets the deduction.

You can deduct interest on a timeshare if it is deeded and recorded in public records and it meets all the requirements for deducting mortgage interest.

Mortgage interest can only be claimed on a maximum of two homes (main home and a second home). If you have mortgages on two homes and a timeshare, you won’t be able to deduct the mortgage interest on one of those properties.

Click here for additional information on timeshares and mortgage deductions.