1099S

[Hutton53]

This came 2/12. Sold Disney Time Share. The income that it shows was used to pay off mortgage on DVC ownership.

[DaveF1006]

 Since a timeshare is a capital asset, you report the sale in the Investment Income section:

1. Go to Federal > Wages & Income.
2. Find the section for Investment Income and select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
3. When asked what type of investment you sold, select Other (or "Second Home/Personal Property" if listed).
4. Enter the Proceeds exactly as shown on Box 2 of your 1099-S.
5. Enter your Cost Basis. This is what you originally paid for the Disney Vacation Club (DVC) interest, plus any closing costs from the original purchase.
6. Finsish out the section.