Rental Income

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Original Message:

Re: Rental Income (by Mike N.):

orvillef2 wrote:
I'm no tax consultant, but I would say that any income must be reported by you whether or not the other guy report it.

That being said, I honestly doubt you have any chance at all to make a dime renting out your Mexican Timeshares. Perhaps you'll get re-imbursed for your maintenance fee. I have several timeshares that I find next to impossible to rent out, and these are big nice resorts such as the Grand Mayan. I even wait up late at night to call as soon as they start answering the lines to get the best weeks available.

If I had known how much I would have to pay to advertise and still not get a renter, I would have bought only the number of timeshares I would use each year myself! Now I'm stuck gifting away these great weeks at great resorts just so I won't lose them.

So don't worry too much about (income reporting) perhaps you should start looking at a charity to be able to write off some of your maintenance fees if you can?

=============== The Help section of Redweek has info regarding timeshare rentals and taxes. TUGS also has info at: http://www.tug2.net/advice/TUG_Taxes_and_Timeshares.htm