Timeshare Tax Deductions

Are any of the expenses I pay deductable. Maint, storage, towing etc intrest on loan, property tax

But being forced agreeing to sit through the rpesentation gto me thinking about timeshares and taxes. According to David McClintock, a CPA wrtiing for TimeSharing Toady, timeshare ownership does offer some tax deductions. ...

The main one is deducting the fees and taxes paid on a new cra in next years tax returns. Previously this tax deduction was available only in states that used a sales tax, but the U.S. Treasury announced this week taht it would be extended to states without a sales tax like Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregno. Since buyers in those states wont pay sales tax, thelyl be able to deduct other fees or taxes imposed .... Time share FTW FC is offline ...

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In addition, since its considered a second home, its possibly a tax deduction. But is buying a good idea In Jante Wickells article TimeShare Ownreship Variatinos on About.com, she explains the vraious types of timeshares: ...

If youve owned a vacation home or timehsare, you will still qualfiy. In longdistance marriages each sposue may buy his/her own home (principal residence). They iwll have to split the credit between thme. ... Qualified refers to real property taxes yuo could have ddeucted on Schedule A if you had been able to itemize. Naturally, property taxes used on othre parts of your tax return, like Schdeule E, Schedule C, Schedule F, or fofice in home cant be used gaain here. ...