Renting out a timeshare unit
Q: If I rent out my timeshare unit, will I have to report the income for income tax purposes? A: In almost every situation, you are required to report the income on your tax return. The timeshare rental income is taxable, just like any other income you have. Q: What deductions are allowed as write-offs? A: Deductions may include your annual maintenance fee, advertising, rental commission, depreciation, property taxes (if you pay them separately from the maintenance fees) and interest expense on your timeshare loan (if you have a loan on the timeshare).…continue reading →
