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Maintenance fee - real estate tax

djrsin

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Hello Tuggers,

I'm a first year HGVC owner and I am looking at my maintenance fee breakdown and it shows a real estate tax. I'm just wondering if this is the property tax. If so, can this be used when I file my taxes this year? Has anyone done this before?
 

WinniWoman

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Hello Tuggers,

I'm a first year HGVC owner and I am looking at my maintenance fee breakdown and it shows a real estate tax. I'm just wondering if this is the property tax. If so, can this be used when I file my taxes this year? Has anyone done this before?

Yes and yes and yes.
 

djrsin

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WinniWoman

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I have two properties. one in big island hawaii and one in orlando. Can I claim both?

Absolutely. We have 2 properties- 3 weeks total and we claim the real estate tax on all three weeks. It is very little money anyway, though.

You definitely CANNOT claim the rest of your maintenance fees, however.
 

djrsin

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Absolutely. We have 2 properties- 3 weeks total and we claim the real estate tax on all three weeks. It is very little money anyway, though.

You definitely CANNOT claim the rest of your maintenance fees, however.

Ok thank you for the answer.
 
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Sometimes, it is better when you don't itemize your taxes though, when filing, you will want to look at which saves you the most money.
 

EnjoyingHGV

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Ah bummer -- I missed that this year to add, but at least I did claim the interest paid for the timeshare...
 

Tamaradarann

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Sometimes, it is better when you don't itemize your taxes though, when filing, you will want to look at which saves you the most money.

I agree with you. In fact I presented the following scenario on another thread concerning the use of Hilton Honors Amex credit card for paying your HGVC maintenance fees and taxes:

I want to pay my maintenance fees after the first of the year for the 2017 year and before the first of the year for the 2018 year. In that way both years taxes will be paid in the 2017 tax year for which I will itemize. I use the same method for my home real estate taxes which obviously are a lot more. In 2018 I will claim the standard deduction. I don't have enough deductions to itemize every year.
 

Helios

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I wish I could do this, AMT is a big evil...
 
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