I have a 120 pt contract (bought resale) at Animal Kingdom. Rented the entire 120 pts for $1740. Online at dvc I didn't see any break down for my dues of $1085. Seems like technically since I rented all my points for the current year, the dues should offset my Capital Gains. This is only my second time renting points. Last year I showed my rental income and paid tax on it as ordinary income. I didn't deduct anything. I do see now I have to file a Florida tax form. I do my taxes using turbo tax and take the standard deduction. I don't have anything out of the ordinary except this rental income. I just don't want to trigger an audit.
On the schedule E, there were a few questions that I didn't know how to answer. What is the address of the property? Do I just use Animal Kingdom? What percentage of the property do I own? I am assuming zero.
Anything jumping out that is wrong? I don't want to pay a tax person or accountant as it probably cost more than what I made on the deal.
thanks. I appreciate any feedback you have.
On the schedule E, there were a few questions that I didn't know how to answer. What is the address of the property? Do I just use Animal Kingdom? What percentage of the property do I own? I am assuming zero.
Anything jumping out that is wrong? I don't want to pay a tax person or accountant as it probably cost more than what I made on the deal.
thanks. I appreciate any feedback you have.