DH and I were getting ready for our appt. with our accountant for our 2006 tax return (the appt. is next week, but now I am curious about this).
Question:
Since we can only deduct Real Estate/Property taxes from our primary and one secondary/vacation home, if we own at BCV and AKV (which we do), will we only be able to deduct the RE tax for one of the DVC properties or because they are both under the same Master Contract, can we deduct the RE taxes from both?
I searched the IRS web site and found info on the deduction of RE taxes for primary and secondary homes, but I couldn't find anything that came close to answering my question (there weren't specifics on timeshares with master contracts or anything sounding remotely like that).
We will definitely ask our accountant (and this won't matter to us until we do our 2007 taxes) but I am very curious how others are doing this.
TIA.
Question:
Since we can only deduct Real Estate/Property taxes from our primary and one secondary/vacation home, if we own at BCV and AKV (which we do), will we only be able to deduct the RE tax for one of the DVC properties or because they are both under the same Master Contract, can we deduct the RE taxes from both?
I searched the IRS web site and found info on the deduction of RE taxes for primary and secondary homes, but I couldn't find anything that came close to answering my question (there weren't specifics on timeshares with master contracts or anything sounding remotely like that).
We will definitely ask our accountant (and this won't matter to us until we do our 2007 taxes) but I am very curious how others are doing this.
TIA.