Wyndham Resort Mortgage Interest deductible?

[nwtaxlady]

Client has new this year, a 1098 Mortgage interest statement from Wyndham Resort for Mortgage Interest paid in 2018. In box 8 for address says: Vacation Ownership interest.
This isn't deductible is it? If it is just a timeshare and it says vacation ownership interest.... I don't think it is deductible, has to be deeded property right? Correct me if I am wrong.

[TaxGuyBill]

Many timeshares ARE deeded property rights (1/52ths of ownership).

If they are sending a 1098, it seems like that it probably qualifies to be deductible (assuming this is only the taxpayer's second home, not the third or more homes).

[nwtaxlady]

Many timeshares ARE deeded property rights (1/52ths of ownership).

If they are sending a 1098, it seems like that it probably qualifies to be deductible (assuming this is only the taxpayer's second home, not the third or more homes).

Yes, I asked her and she said it is deeded property and that she bought more points in 2018. So then yes, it is deductible? No other 2nd home etc.

[TaxGuyBill]

Yep, it is deductible (assuming all of the 'usual' rules are met).