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Tax advantages on Timeshare Orlando Florida
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Question: Are there any tax advantages to owning one of these timeshare or "vacation
ownership" deals? Say I bought 4 weeks at Orlando Florida and decided to rent it
out, or if I use it myself, can I write off my travel expenses?!? Would
it qualify as Foreign Investment? Any inputs are appreciated.
Answer: I own a couple of nice timeshares in Orlando Florida (for sale if anyone is
interested in one of them). They are paid off now, but prior I was able to
write off the interest and still can write off the property taxes. You
cannot write off the maintanence fee.
Travel is not deductable unless you are going to your timeshare on business.
If you rent it out, you will be taxed on the rental amount you receive
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