rental income from timeshare

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Original Message:

Re: rental income from timeshare (by Lisa V.):

I have a timeshare (one week) at a resort in Cabo San Lucas, Mexico. How do I handle the Mexican IVA tax? I have tried to research and it looks like I need to go somewhere in Mexico and apply for a permit to rent and then hire an accountant to pay the tax. This seems like a lot when I might just rent one week per year. Also, do I have to pay the tax on the whole rental price, or can I deduct the maintenance fee and only pay the tax on the profit?