It doesn't quite work that way.
You need to know your basis, which is usually what you paid for the Timeshare (plus any improvements you made).
Next, you take the smaller of Box 2 or Box 7. In your case it would be box 2.
Subtract your basis from Box 2.
So if you paid 10,000 you would subtract 10,000 from 11,896 and you have a 1,896 gain.
If you paid 12,000 you would have a 104 loss.
Pub 4681
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