Your main home and second home qualify to deduct mortgage interest while all properties can deduct property tax. If your timeshare is your second home, mark it as second home. If you already have 2 homes, then the mortgage interest would not be deductible, just the property tax.
Here are the steps:
- To add another 1098, select add a lender,
- enter lender name
- continue
- Second home
- continue
- Any of these situations apply? - probably none of the above for you
- Continue
- box 1 Mortgage interest - enter amount
- box 3 mortgage origination date- enter yours
- Property tax paid - enter amount
- continue
- Is this loan secured by a property of yours
- YES
- continue
- points paid - assume no points, make your selection
- continue
- most recent loan, select yes
- continue
- details about loan, select neither of these
- continue
- money exclusively on home - select yes
- continue
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- You have successfully entered your information!