OrionStang Posted January 20, 2013 Report Posted January 20, 2013 My wife and I have a timeshare. We are still making the payments on it and it is considered in the same category as a mortgage for tax reasons. Now, last year, our tax preparer didn't feel it was necessary to report it as property, even though we get a 1099 from the timeshare. SO, does anybody here have a timeshare that can shed some light on the subject? I'd like some guidance on this before I tackle this years taxes. SMD Super Seller My Feedback Thread
OrionStang Posted January 21, 2013 Author Report Posted January 21, 2013 Damn, no tax guru's out there. SMD Super Seller My Feedback Thread
CstrokerV Posted January 22, 2013 Report Posted January 22, 2013 alli know is if you got a 1099 i would claim it just in case... the tax place told me if its under a certain amount that i dont have to claim it (dont remember how much)... but just to be safe i claimed a .23 cent 1099 haha if its not alot its not going to effect much anyways my build http://www.stevemeadedesigns.com/board/topic/142505-small-build-log-4-dc-lvl3-10s-tl-update-link-to-rebuild/ http://www.stevemeadedesigns.com/board/topic/154258-rebuild-6-lvl3-12s-update-small-video-nothing-spectacular/ new build http://www.stevemeadedesigns.com/board/topic/188181-03-trailblazer-slow-build-8-dc-lvl3-12-m1-motor-m2-parts/
Baydestrian Posted January 22, 2013 Report Posted January 22, 2013 May go through Turbo Tax and ask them? 2015 Mazda 6 JVF Customz 4.0 Proto 15>Wolfram W4500 @ .5ohm 2 Sundown Neo 6.5 + 2 CT Meso Tweeters (Front) x Kicker KS6.5 (Rear)>JL Audio VX400/4i NSB-AMG35 (front) / 40ah Lithium Headway (Rear) built by Erni Audio & Electrical
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