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i purchased a timeshare in 2008 put down 2500 never used it never made a payment on it.. recd a 1099 a form in the mail how do i figure out if i have to claim income or not?
Wiki User
∙ 15y ago
It's hard to say based on the information. A 1099 is usually distributed when money has been paid to someone. So it almost seems like you were paid money. Did you receive any money from the timeshare? I would call the company that sent you the 1099 because they clearly feel as if they sent you money. if you didnt' receive it they need to know that.
Wiki User
∙ 15y ago
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Can I deduct my timeshare rental on my income taxes?
Timeshare rentals are not deductible on your income tax as a vacation home.If you were doing business there you might get by with it but I would not chance it.
Does a timeshare have to be included in your debt to income ratio when applying for a mortgage?
If you have a monthly payment, then the amount needs to be included. The lender is doing this so that they know you have the money to pay the mortgage, and that you are not financially overextended.
Does a six figure income mean one million dollars?
does a six figure income mean one million dollars? a six figure income refers to 100,000 to 999,999 dollar income
Is there a general calculation used to figure the monthly payment amount on income based apartments?
No, because you need to take into many factors, such as size, rooms and location for the calculation.
Does a five figure income mean ten thousand dollars?
A Five figure income can mean any figure from 10,000 to 99,999
What does accrued income mean?
Accrued Income is an income already incurred but no payment is received yet.
How much is a four figure income?
A four figure income in US dollars ranges from $1,000 to $9,999.99
Income should be paid on a house payment?
25 percent of income should go to house payment but the average is more like 50 percent.
What is the definition of income?
income is what you can earn including your salary, other suport income like your rental income and some profit payment
How do you calcute debit to ratio?
Your debt-to-income ratio compares the amount of your debt (excluding your mortgage or rent payment) to your income. To figure this out it is easiest to use monthly figures. Take you monthly bill amount and divide it by your monthly take home pay this will give you a decimal number which is your percentage of debt to income.
What are the release dates for How to Figure Income Tax - 1938?
How to Figure Income Tax - 1938 was released on: USA: March 1938
How do you calculate bills proportionate to income IE one income is 90k and other income is 40K What pecentage does the lower income pay?
90+40=130 (Total payment/130)x40=amount paid by lower income. (Total payment/130)x90=amount paid by higher income.
