Important Service Announcement: Based on user feedback we are not shutting down the TaxAlmanac.org website however the site is now an archived version as of June 2014. While all of the existing discussion threads and commentary will be preserved you will no longer be able to edit content, post to forums or create additional logins.

Discussion:Fee paid to take time share off hands

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Tax Questions --> Fee paid to take time share off hands


Porat (talk|edits) said:

14 March 2007
Person pays a firm that will take a time share off your hands. Person pays firm $2,300 , has basis of $16,000. Loss of $13,700. Property was never rented. How is loss treated, or is it not allowed, as time share would have been a second home? 
Thanks

Kevinh5 (talk|edits) said:

14 March 2007
did you use the search

<<<<

answered several times already

Deback (talk|edits) said:

March 14, 2007
I'd pay $2,300 right now to take the next month off my hands!

Deback (talk|edits) said:

March 14, 2007
A loss on timeshare is not allowed. Deduct the same for cost as the sales price on Sch D.

To join in on this discussion, you must first log in.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Fee_paid_to_take_time_share_off_hands"
Personal tools