Timeshare Interest

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  • Taxman
    Senior Member
    • Nov 2005
    • 111
    #1

    Timeshare Interest

    I have a client who received a 1098 from his timeshare. He uses the timeshare 2 weeks out of the year for vacation, can he take a deduction for the interest?
    Tags: None
    • S T
      Senior Member
      • Jun 2005
      • 5053
      #2
      Timeshare and Mortgage Interest Deduction

      I believe if the timeshare property is deeded, then you can deduct as mortgage interest as a second home. Mortgage attached to that property not used under a Home Equity Loan. There could be some other restrictions as well. Maybe take a look at the TB(sorry I don't have a page reference) or pub 936.

      Sandy

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