Can I skip reporting my timeshare on taxes if I only owned it for 3 days in December?

Thanks for the info! I'm curious though - if I do decide to take the property tax deduction for those few days, would that raise any red flags with the IRS since it's such a short period? And does the fact that it's a timeshare vs a regular property make any difference for tax purposes?

Taking a property tax deduction for just a few days wouldn't raise red flags as long as you only deduct the taxes you actually paid during those days. The closing statement should clearly show what portion applies to 2025. The amount will be small for just three days, but it's still legitimately deductible. Regarding timeshares vs. regular properties, they're treated similarly for tax purposes when used personally. The main difference comes into play with rental and business use, where timeshares have some specific limitations on deductions compared to full ownership properties. For personal use, the same rules for property tax and mortgage interest deductions generally apply to both.

Does it work for international timeshares too? I have one in Mexico and always struggle with figuring out what's deductible under US tax law.

Sounds interesting but I'm skeptical. How is this better than just asking my accountant? And does it handle weird situations like my timeshare where I split ownership with my sister but we're not on the same tax return?

It absolutely works for international properties! The system specifically asks about property location and applies the correct US tax rules for foreign property. It handles things like foreign property taxes and currency conversion issues that often confuse traditional tax software. For split ownership situations, it's actually extremely helpful. The tool lets you input partial ownership percentages and calculates exactly what portion of expenses you can claim on your individual return. It creates a detailed report showing your specific deductible amounts versus what belongs to your co-owner, which is super helpful for documentation.

How does that even work? Does it just call the IRS for you? I'm confused how a service could get through when the lines are always busy.

Yeah right. Nothing gets you through to the IRS faster. I've tried every "trick" and still waited hours. This sounds like you're just paying for someone to call for you, which I could get my teenager to do for free.

It doesn't just call for you - it uses a system that continuously redials and navigates the IRS phone tree until it finds an available agent. Then it calls you and connects you directly. It's not about having someone physically make calls - it's technology that can make hundreds of attempts in a short time. The reason it works when manual calling doesn't is that it can make attempts constantly, detect when there's an opening, and immediately get you in before someone else takes the spot. When I used it, I was literally connected in 37 minutes after trying unsuccessfully for days on my own.

Wait really? The timeshare salesperson told us all the fees were tax deductible! Is that actually not true? We've been deducting everything for the past 2 years...

Unfortunately, timeshare salespeople often exaggerate or misrepresent the tax benefits - it's a common complaint. For personal use timeshares, only the property tax portion and mortgage interest are deductible as itemized deductions. The maintenance fees, cleaning fees, special assessments, and club dues are generally NOT deductible for personal use. If you've been deducting all fees for two years, you might want to consult with a tax professional about whether you should file amended returns. The timeshare company should provide an annual statement that breaks out exactly what portion of your payments were for property taxes versus other expenses.

Yes, rental use changes the tax picture significantly! When you rent out your timeshare, it becomes rental property for those periods, and you can deduct expenses proportionate to the rental use. This includes a portion of maintenance fees, depreciation, cleaning costs, etc. The key is keeping excellent records of personal vs. rental use days. Calculate the percentage of rental use (rental days ÷ total days available) and apply that percentage to your expenses to determine what's deductible. You'll report rental income and expenses on Schedule E. Be aware of the vacation home rules though - if you use the timeshare personally for more than 14 days or 10% of the days it's rented (whichever is greater), deductions are limited to the amount of rental income.