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Discussion:Time share

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Discussion Forum Index --> Tax Questions --> Time share


Pjnieves (talk|edits) said:

20 February 2007
I have a client that "paid" to sell his timeshare. It was a deeded timeshare and TP deducted interest and property taxes on it. Never rented although he claims he tried several times. Need help on the tax treatment on the disposal. Any authority would be great.

Thanks, Peter

Kevinh5 (talk|edits) said:

20 February 2007
personal loss - not deductible

Deback (talk|edits) said:

February 21, 2007
Report the transaction on Sch D. If there was a gain, it is taxable. If a loss, use the same cost as the sales price.

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