MonikaK1
Expert Alumni

Get your taxes done using TurboTax

If no debt was discharged, and the form you received only shows the fair market value of a timeshare property that you relinquished, then you don't need to report it on your return.

If, as is usually the case, the timeshare was a personal use property, there is no deductible capital loss to report.

 

See this tax tips article for more information about cancellation of debt.

 

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