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sydneymouse
02-18-2011, 11:33 AM
This is our first year being in the DVC. Does anyone know if there is anything that is tax deductible related to DVC?
faline
02-18-2011, 11:36 AM
Part of your dues are for real estate taxes which should be tax deductible.
DizneyRox
02-18-2011, 02:54 PM
If you're financing, in the past (I'm not sure about this years taxes) the interest was a deduction just like a mortgage. I think it depends on the type of financing, etc. Best to consult a tax professional.

We've been deducting it though since we became members like forever ago.
Ian
02-18-2011, 04:17 PM
Part of your dues are for real estate taxes which should be tax deductible.Huh ... does Disney send statements for this? I know I get a statement of mortgage interest for BLT, but I don't recall getting anything for real estate taxes.


If you're financing, in the past (I'm not sure about this years taxes) the interest was a deduction just like a mortgage. I think it depends on the type of financing, etc. Best to consult a tax professional.

We've been deducting it though since we became members like forever ago.This is correct. If you finance through Disney (and only if you finance through Disney) it's considered a mortgage on a second home and the interest is tax deductible.
Hammer
02-18-2011, 04:36 PM
Huh ... does Disney send statements for this? I know I get a statement of mortgage interest for BLT, but I don't recall getting anything for real estate taxes.


Ian, it is on the statement that is sent to pay your annual dues. There is a box that says "real estate taxes". It's not a lot of money, but it is another thing to add to your itemized deduction total!
tundramom
02-19-2011, 12:21 PM
Ian, it is on the statement that is sent to pay your annual dues. There is a box that says "real estate taxes". It's not a lot of money, but it is another thing to add to your itemized deduction total!

Yep, I've used it on Turbo tax!
iloveokw
02-19-2011, 06:06 PM
We deduct the real estate taxes.
NH Disneyfan
02-19-2011, 08:13 PM
Ian, I don't think cities/states send "tax" forms at year end for the taxes you pay, so this real estate wouldn't either. You use the bill you pay and deduct what's applicable per tax code.
Ian
02-20-2011, 01:47 PM
Huh ... I think I may have missed a deduction, then.

But it's only about $340, so not worth filing an amended return for I don't think.