If you rent out your vacation home to others for any part of the year, it is a qualified residence only if you use if for personal purposes for more than 14 days or more than 10 percent of the rental days in the tax year, whichever is longer. If you don't use it long enough, it is considered "rental property" and a different set of rules apply.
In the case of a timeshare arrangement, you count your use and rental of the home only during the time you have a right to use it.
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Tip
If you have the right to use a timeshare condo for one week each year, you could claim the mortgage interest deduction for a loan on the condo if you either use the week or leave the condo vacant for the week. If you rented it for even one day during the week, you'd lose the deduction for the year since it would be impossible for you to meet the greater-of-14-days-or-10-percent rule.
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