Are property taxes on DVC deductible?

[jnrrt]

Does anyone know if we can deduct the property tax portion of our dues off our taxes?

Thanks!

[Deep-Thots]

Yes. We give them to our accountant, and, as far as I know, they are deducted to the extent allowable by the law!!

[KNWVIKING]

I'm trying to find a way to take a deduction for my AP's. Leaning towards a medical expense...... you know...stress relief, sanity...... waddaya think ?

[tinksmom]

I'm trying to find a way to take a deduction for my AP's. Leaning towards a medical expense...... you know...stress relief, sanity...... waddaya think ?

:idea: I like that idea!
tenya

[bavaria]

Much as I would like to slide the AP cost into my return, I doubt that I would be so lucky as to have it approved!!

Now, stupid question time. Please bear with me...... ahem....

On my 2005 filing, I claim MF PAID in 2005, correct? (in my case none) The MFs I just paid are 2006 fees, correct, and apply towards my 2006 filing, correct??

[jdvm]

My accountant says they're deductable, too. Go for it!!

[Pumpkinboy]

Much as I would like to slide the AP cost into my return, I doubt that I would be so lucky as to have it approved!!

Now, stupid question time. Please bear with me...... ahem....

On my 2005 filing, I claim MF PAID in 2005, correct? (in my case none) The MFs I just paid are 2006 fees, correct, and apply towards my 2006 filing, correct??Herr Bayern;
You are correct: you claim the property tax portion of MF paid for 2005 on you 2005 return.

I'd love to deduct those APs too, but my tax lawyer DW thought it too much of a stretch (darn ethical lawyers).

[jiggerj]

Will we get a statement in the Mail? :dunce:

[SwampFox]

Will we get a statement in the Mail? :dunce:

Yes, the statements went out in late December. You will not get a 1099 or anything specifically for the property taxes- you will need to use the amount provided in the statement sent.

You should also check with your tax preparer since there are situations where the prop tax would not be deductible. It is basically treated as a second home, but there are limitations that apply.

[jiggerj]

Yes, the statements went out in late December. You will not get a 1099 or anything specifically for the property taxes- you will need to use the amount provided in the statement sent.

You should also check with your tax preparer since there are situations where the prop tax would not be deductible. It is basically treated as a second home, but there are limitations that apply.

Thanks SwampFox ! I just found the statement- Glad I didnt toss it! :)

[bavaria]

Herr Bayern;
You are correct: you claim the property tax portion of MF paid for 2005 on you 2005 return.

I'd love to deduct those APs too, but my tax lawyer DW thought it too much of a stretch (darn ethical lawyers).

AHEM!! Fraulein Bayern, if you please!!!

but thanks for the response.... :D