Discussion:Fee paid to take time share off hands

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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?

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.

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