Tag Archives: Timeshare

Value of Timeshare

Today TaxMama hears from Haley in the TaxQuips Forum, who is working on an Offer in Compromise. “Is there a method for obtaining a fair market value (FMV) for a Time Share property? I would hate to report the full purchase as the FMV on the 433-A, but don’t know any other way to value the […]

Time Share Penalties

Today TaxMama hears from Peg in the Tax Parlor, who tells us: “In the past, I had been declaring rental income from our timeshare, and deducting the maintenance fee. For the last 2 years, I have NOT done this. But I’m a little concerned, because I always get a 1099-Misc form from the timeshare. I […]

Canadian Rental

Today TaxMama hears from John in the TaxParlor who says, “I had a client ask how to claim a rental in Canada. He got it this year 2006. He pays property tax and mortgage interest and has some other costs. He also said it was a time share. He is not using it and only […]

Time Share Tips

Today TaxMama hears from Sylvia in Texas needlessly putting herself down. “About those darn time share payment deductions! I understand that only stupid people invest in such things. However, can we deduct the property taxes assessed to us?”