Opinion?

[RememberWhen]

Hey all,

Due to the lovely past couple of years my mom has 250ish points due to expire at the end of January. They’re 2020 points, And we can’t get down there before they expire. We are hoping our February plans don’t get derailed by omicron…

My mom just wants to let them expire. She says it’s just how things are with Covid.
We don’t want to bank them with RCI since DVC is switching to interval.

Does anyone think I should push her to bank into interval after the first? Is it too late to do that anyway? How long would we have to use the interval points?

Thanks for your help!

 

[nickys]

Hey all,

Due to the lovely past couple of years my mom has 250ish points due to expire at the end of January. They’re 2020 points, And we can’t get down there before they expire. We are hoping our February plans don’t get derailed by omicron…

My mom just wants to let them expire. She says it’s just how things are with Covid.
We don’t want to bank them with RCI since DVC is switching to interval.

Does anyone think I should push her to bank into interval after the first? Is it too late to do that anyway? How long would we have to use the interval points?

Thanks for your help!

I haven’t read the details about banking points into Interval.

At this point I would contact the main brokers and see if they could rent at least some of them out for you. I think at least one such broker allows “distressed points” like these to be rented out at your own choice of price. Someone might be glad to snap them up.

 

[RememberWhen]

My mom is worried about needing to pay tax on the rental income. Is that a real concern?

I suggested renting them out back in October when we knew they would go unused.

 

[CastAStone]

My mom is worried about needing to pay tax on the rental income. Is that a real concern?

I suggested renting them out back in October when we knew they would go unused.

Rental income should be taxable, but let’s say you get $11 a point distressed, you’re looking at $2750 in cash, and even if she owed the highest tax rates in the country, she’d still be up ~$1500 after paying said taxes.

But even that is a worst case scenario, because it’s likely you could deduct a substantial chunk of that $2750 and only pay taxes on a small part, see http://dvcfan.com/2021/02/18/do-i-have-to-pay-taxes-when-renting-my-dvc-points/

 

[RememberWhen]

Thanks. I think she really would prefer to just lose the points than deal with the tax stuff. She uses TurboTax. I dunno. Thanks for the advice. If it comes up again I’ll push her to rent the extra points earlier. Does anyone have a preferred broker?

 

[Club Cooloholic]

Thanks. I think she really would prefer to just lose the points than deal with the tax stuff. She uses TurboTax. I dunno. Thanks for the advice. If it comes up again I’ll push her to rent the extra points earlier. Does anyone have a preferred broker?

Can you still bank them with RCI? If possible do that or with the new Exchange. RCI will keep the points alive and you can even book it out for next year. She might be surprised some of the decent options it has.

 

[RememberWhen]

Can you still bank them with RCI? If possible do that or with the new Exchange. RCI will keep the points alive and you can even book it out for next year. She might be surprised some of the decent options it has.

I don’t know. My wife and I have a different timeshare that trades through rci. Honestly we struggle to use those points. I can’t see my mom being excited about her options. Maybe I’ll wait until after the first and see if she can bank them to interval. Worst case she loses those points later.

 

[Club Cooloholic]

I don’t know. My wife and I have a different timeshare that trades through rci. Hopefully we struggle to use those points. I can’t see my mom being excited about her options. Maybe I’ll wait until after the first and see if she can bank them to interval. Worst case she loses those points later.

One other thing you could do is just put the word out with family and friends and see if anyone wants them. You could see if they would be willing to just put towards dues, or you could just be doing someone a really big solid.

 

[correcaminos]

I would do anything not to lose those points. You're throwing away the thousands you spent on dues for them. Rent them if you can or dump into II. Don't throw money away.

 

[RememberWhen]

I can’t figure out how to put them into interval. Do you have to call? I mean. I know it’s not until after the first. But the DVC website doesn’t seem to have an easy “bank with rci” button that I can find. And I can’t imagine they’ll update things quickly and smoothly on Jan 1.

 

[RememberWhen]

One other thing you could do is just put the word out with family and friends and see if anyone wants them. You could see if they would be willing to just put towards dues, or you could just be doing someone a really big solid.

I also suggested this. She’s very generous with her points. She’s letting my family have some for August 22 and she’s booking my cousin a week in December 22. There’s not a ton of availability at Disney between now and February 1. If I wouldn’t have to pull kids out of school I would just find a way to use them, but I can’t.

 

[CastAStone]

I can’t figure out how to put them into interval. Do you have to call? I mean. I know it’s not until after the first. But the DVC website doesn’t seem to have an easy “bank with rci” button that I can find. And I can’t imagine they’ll update things quickly and smoothly on Jan 1.

As far as I know you have to call. I’ve never heard of it being done online.

 

[correcaminos]

I also suggested this. She’s very generous with her points. She’s letting my family have some for August 22 and she’s booking my cousin a week in December 22. There’s not a ton of availability at Disney between now and February 1. If I wouldn’t have to pull kids out of school I would just find a way to use them, but I can’t.

Leave the kids lol. I say that as a joke but I just did it last month.

 

[RememberWhen]

Leave the kids lol. I say that as a joke but I just did it last month.

The youngest is just 6 months old and still nursing, but someday we’ll do that!

 

[RememberWhen]

As far as I know you have to call. I’ve never heard of it being done online.

How annoying.
Maybe I’m just young enough that I expect to be able to do it quickly and easily online…? I’ll call after the first if I can’t find someone to use the points.

 

[correcaminos]

The youngest is just 6 months old and still nursing, but someday we’ll do that!

I didn't get around to it until my kid was 14. Somehow my last part didn't go through. As far as I know you need to call to put into II.

 

[RememberWhen]

Thanks for the thoughts everyone. I’ll keep checking availability and texting everyone I know to see if they want to go to florida for a few days. Seems like someone should say yes, but most of the people I know have young kids and aren’t traveling right now. If that fails I’ll call DVC in Jan and see if I can move them to interval.

 

[zapple]

Thanks for the thoughts everyone. I’ll keep checking availability and texting everyone I know to see if they want to go to florida for a few days. Seems like someone should say yes, but most of the people I know have young kids and aren’t traveling right now. If that fails I’ll call DVC in Jan and see if I can move them to interval.

The current rule for moving them to rci is it has to be done 45 days before the end of your use year, so you’re already past that. I assume the same rule applies to Interval but you should call now to ask.

 

[RememberWhen]

The current rule for moving them to rci is it has to be done 45 days before the end of your use year, so you’re already past that. I assume the same rule applies to Interval but you should call now to ask.

Ah! Thanks. That makes sense. I’ll call anyway, but I’ll push harder to find someone to use them.

 

[wishicouldgomoreoften]

I understand her rather let them expire than bother with the tax mess, and maybe having to get a professional ta prepare to do her taxes to correctly handle the rental income. As you have said, there is not DVC availability left between now and Jan 31. But maybe whoever takes them can use them at the extras collection--WDW resort hotels. It is a high use of points, but still better than just letting them expire. I don't know if that would require your mom to make the arrangements. If so, she probably would not want to. Just a thought.