# Writing off Timeshare Real Estate Taxes on Income tax



## TravelGirl63 (Mar 6, 2010)

Has anyone or does anyone know if you can write off the real estate taxes you pay for your timeshare on your income tax. I've never done this, but wondered if anyone knows if you can?


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## Luanne (Mar 6, 2010)

I always have.


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## DeniseM (Mar 6, 2010)

We do. 

See this tax article on the TUG Advice page - scroll down to "Deductible Items."


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## TravelGirl63 (Mar 6, 2010)

Thanks!  I don't know why it never occurred to me to do this in the past.  Now, I just have to find those 2009 bills Starwood sent...


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## jarta (Mar 6, 2010)

TravelGirl63,  "I don't know why it never occurred to me to do this in the past. Now, I just have to find those 2009 bills Starwood sent..."

I hope you read to the end of the Deductible Items section DeniseM posted:

"*Your annual maintenance fee is not deductible*. This annual fee for utilities, pool care, lawn care, other maintenance, management, and other expenses can be compared to similar expenditures that you might incur on your primary residence, which are also not deductible."   ...   eom


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## csudell (Mar 6, 2010)

you can deduct the real estate tax portion, not the utilities, etc.  the real estate tax portion is generally a very small piece of of the pie.


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## DavidnRobin (Mar 7, 2010)

if your taxes are into AMT - property tax write offs decrease...
WKORV taxes are called Ad Valorum Tax in the MF bill (if I recall correctly)


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## DeniseM (Mar 7, 2010)

DavidnRobin said:


> if your taxes are into AMT - property tax write offs decrease...
> WKORV taxes are called Ad Valorum Tax in the MF bill (if I recall correctly)



David - that's correct!


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## Tider (Mar 7, 2010)

I can't find my 2009 statements regarding MFs.  Is there some way to get a copy of those statements with a breakdown as to the real estate taxes.  I haven't been able to locate that information on mystarcentral.
Thanks,
Tider


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## DavidnRobin (Mar 7, 2010)

What type of villa do you own? I may get Robin to pull it out.
In an TUG thread (and may be assumed from the link above) - it was mentioned that property taxes had to be billed separately to write-off - so be careful with WKORV. (and check with tax advisor...)


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## london (Mar 7, 2010)

*Real Estate Taxes*

We have found that the RE taxes per unit week in Florida, are in the 50.00 to 80.00 range.


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## DeniseM (Mar 7, 2010)

David - Dave M's article also states:



> They should also be deductible if your resort shows them as a separate item on your maintenance fee billing.


  And he is a CPA.

But i agree - take the MF bill into your tax professional.


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## Tider (Mar 8, 2010)

Dave and Robin,

I own an EY 2 BR LO OV at WKORV and an EOY 1 BR OV Deluxe at the same resort.  

Thanks,
Tider


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## pianodinosaur (Mar 8, 2010)

My accountant always asks for the real estate taxes on my timesharses.


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## Phill12 (Mar 8, 2010)

Have always used the Nevada tax. Just listed my 2009 unit which was about $39.00 and also paid taxes for both units 2010 in 2009 . Because of this I wrote all three off this year. My taxes went from $39.00 to $45.00 for 2010.

 I had to call our resort because I had no papers sent to me and found out it was because I paid maintenance fee's and taxes early so they just faxed me the taxes paid. 

 PHIL


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## LisaRex (Mar 9, 2010)

Remember also that you write the deduction off during the year that you PAY the tax, not the year it's due.  For instance, if you paid your 2010 MFs in December 2009, the real estate portion would be itemized on your 2009 taxes, not your 2010 taxes:

"To be deductible, the tax must be imposed on you and must have been paid during your tax year."

http://www.irs.gov/taxtopics/tc503.html


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## DavidnRobin (Mar 9, 2010)

As mentioned - consult your tax person.  (and I haven't ask Robin to dig out the MF files yet)

Re: Ad Valorum Taxes - these are cummulative taxes of which a portion is Property Tax related (going back to the issue of Prop Tax being separate in the MF bill) - so be careful here -

since the increments are >$50 - generally TS Prop taxes not going to be significant for either side to care.

When you are into AMT (as I am sure those with multiple high-end TS probably are...) the ability to write-off property taxes go away.

I account for them myself (although I do not get most of the write-off) - WSJ and WKV bill taxes separately.  WKORV and WPORV use an Ad Valorum line item in the MF (which may be more than the Prop Tax portion... as mentioned)

Overall - unless you are unlucky with a detailed audit (rare) - and have insignificant TS Prop Tax - you might as well write-off what you can in your favor.

IMO - YMMV


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## pharmgirl (Mar 9, 2010)

I thought you could only take taxes off for primary and one secondary property?


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