Timeshare exchange closing costs

Forum|Forum|3 months ago
March 18, 2026
2 replies
143 views

We exchanged one timeshare property (100% personal use) for another and got a credit for the entire initial purchase, which was reported on a 1099-S. I found where to input on TurboTax premium, but do I enter the closing costs for the original property or the second property?

thanks!

ThomasM125

Level 15

You would enter the closing costs for the original property, as they are part of the cost, so you get credit for that against the sales proceeds reported on the Form 1099-S.

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Mike9241

Level 15

since the first is 100% personal use be careful. You are not allowed a loss deduction on the sale of personal assets.

Mike9241

kelly-marriottAuthor

Level 2

I am struggling to find the closing costs for the original property. I believe given what you said, I would not be able to deduct them regardless, so maybe not worth the effort to research and just leave as zero?