Timeshare

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  • TAX
    Senior Member
    • Dec 2005
    • 330
    #1

    Timeshare

    Client purchased time share in 2007.

    Do I need to report anywhere? Like taxes, ineterst etc.

    Thanks!
    Tags: None
    • Roland Slugg
      Senior Member
      • Aug 2006
      • 1860
      #2
      If your client itemizes his deductions, the property taxes paid are deductible. So is the mortgage interest unless he already deducts interest on two other homes.
      Roland Slugg
      "I do what I can."

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