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I did a quick search and did not get any definitive answers, so Ill ask it here. I am quite sure that any interest paid towards buying points can be construed as mortgage interest on a second home, but how about Real Estate taxes? Does anyone have advice on using any portion of Fees towards that deduction?
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I have been deducting my real estate tax portion of my fees every year since 2005 when I became an owner............ -
Taxes
How do you find out how much real estate tax that one pays for Bluegreen points / deed ?Comment
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It should be itemized on your Maintenance Fee bill. Or at least that is how our MF for Pono Kai which is managed by Bluegreen does it.Originally posted by Tom in GAMy Website Link Oked by BFComment
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Taxes are itemized on Points accounts also
Bluegreen also gives you the line item for Real Estate taxes for points accounts. It is my understanding that you can only deduct Real Estate taxes if they are billed to you as a line item or somehow directly specified.Originally posted by Tom in GA
CharlesComment
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That is true and also you cannot deduct taxes on real estate used for business and also tax is deductible only if the taxes are based on the assessed value of the property. There are other conditions that must be met, but most real estate taxes are deductible. That is why most timeshares break out the amount paid for taxes.Originally posted by crwisconsinComment
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When do these things usually arrive.....should be soon now.Comment
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Real estate taxes are only listed on your annual maintenance bill.
You do not receive any other tax form from them unless your mortgage is held by Bluegreen and then it only has interest paid not taxes.
JustineComment
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