DO I report the sale of a timeshare on schedule D?

Forum|Forum|3 years ago
February 14, 2023
2 replies
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time share sales

TurboTax Premier Online

Best answer by Anonymous_

A sale of a timeshare that was held solely for personal use is the sale of a capital asset which can generate a capital gain but for which there would be no deduction for a capital loss (since it is personal use property).

In TurboTax, you would enter the transaction in the Stocks, Mutual Funds, Bonds, Other subsection of the Investment Income section.

Anonymous_Answer

Level 15

In TurboTax, you would enter the transaction in the Stocks, Mutual Funds, Bonds, Other subsection of the Investment Income section.

MayaD

Alumni - Intuit

You would report the sale as sale of a second home in TurboTax and it goes on Schedule D.

Your second residence (such as a vacation home) is considered a capital asset Use Schedule D (Form 1040), Capital Gains and Losses and Form 8949, Sales and Other Dispositions of Capital Assets to report sales, exchanges, and other dispositions of capital assets. IRS.gov

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