The IRS generally considers the sale of a time share interest to be the sale of personal property. Gains are taxable. Losses are not deductible on personal property. To report this sale in TurboTax Premier Online (you'll need Premier):
• Type investment sales in Search in the upper right
• Click on Jump to investment sales
• Choose Other as the type of investment (not Stocks, Bonds, Mutual Funds)
• Enter the name of the seller or broker and EIN number (optional)
• Choose Other in the box What type of investment did you sell?
• Fill in the rest of your information
Your sale price would be $9,104.58 and your cost $2,400.00 for a capital gain of $6,704.58.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
