Tax forms for 2008?

[Alie]

I am a fairly new owner and I'm wondering if I need to be on the look out for tax forms (that need to be included in my calculations) when doing my taxes for 2008.

My boyfriend owns our house, so I'm not familiar with all the forms that may be included when owning property. This is the first property that I own (actually we co-own our vacation club property). We own in Vegas (on the strip), and live in California.

I didn't see anything come in last year (for 2007), but we hit escrow at the tail end of december and technically our membership didn't begin until the start of January of last year - though I'm not sure that matters.

Any input that can be given is appreciated. It's almost the end of January when all tax forms are required to arrive and I have not seen anything come in regarding this property.

Thanks!

 

[Luanne]

I'm not an accountant, but I believe the only thing you can use for tax purposes are the property taxes paid on this. And you won't get a statement for that.

 

[Talent312]

Last year, I filed an amended return when I realized that I had not deducted the property tax on our TS's that were in our M/F statements. It made a a small difference in my taxes.

This year, it appears that they've raised the standard deduction to the point where, even with mortgage interest, property taxes, charities and other items, I won't be itemizing for the first time since the earth cooled.

 

[hurnik]

I'm not an accountant, but I believe the only thing you can use for tax purposes are the property taxes paid on this. And you won't get a statement for that.

I got a statement last year for Hilton with Property taxes listed on it, so I'd think that someone will get a statement this year.

Whether it can be deducted or not is a diff. story.

 

[IngridN]

I'm not an accountant, but I believe the only thing you can use for tax purposes are the property taxes paid on this. And you won't get a statement for that.

The Nevada real estate taxes are listed as a separate line item on my Grand Chateau maintenance bill, therefore, are deductible.

Ingrid

 

[Luanne]

I get a separate tax bill for the property taxes on the timeshare I own in California. What I meant is that I don't get any other kind of statement for it, showing that I paid the taxes.

Of course I don't get a statement showing I've paid the property taxes on my home either.

I got the impression the original poster was looking for some other type of form, like a 1098 or 1099 for the timeshare that would need to be included when calculating their 2008 taxes.

 

[IngridN]

I get a separate tax bill for the property taxes on the timeshare I own in California. What I meant is that I don't get any other kind of statement for it, showing that I paid the taxes.

Of course I don't get a statement showing I've paid the property taxes on my home either.

I got the impression the original poster was looking for some other type of form, like a 1098 or 1099 for the timeshare that would need to be included when calculating their 2008 taxes.

You're right Luanne, I should have read more carefully

Ingrid