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 » From: Aransas Pass, TX Dear TaxMama: Are maintenance fees on time shares deductible if one does not generally itemize? Sylvia Dear Sylvia, Don't you just wish they were? No, sorry. Uh uh. They're not even deductible if you DO itemize. They're only deductible if you rent them out and report the rental income. But, good news, if your time share is for 14 days or less, there's a little loophole in the law that lets you rent it out 100% tax-free. No kidding. So, if you don't use it - turn it over to be rented. Best wishes, Eva Rosenberg Your TaxMama  |
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