I paid $6,000, supposedly legal/administration fees, to exit my 'point system' timeshare in Feb 2019! As part of the contract I authorized the Timeshare Exit Team to rent out my unit to bring the balance of my 23,000 points to 'zero'. The total of rents collected from my timeshare during February 2019 thru July 2019 was $3,400, units rented for a total of 64 days. The exit company sent me a 2019 1099-MISC for rental income (it states 'rental income' on the 1099) for $3,400 which I know that I have to report as rental income and pay federal and state taxes. The question is since I did rent my timeshare units for the 64 days in 2019, (I haven't rented my timeshare in any past years since I bought it in 1998), can I take any expenses such as my maintenance fees or maybe some of the legal/administration fees as expenses to offset this rental income?
