RobertB4444
Employee Tax Expert

Deductions & credits

Because Wyndham booked it as a sale.  

 

Enter it into TurboTax as a sale of the property listed on the 1099-S.  Enter your basis as what you paid for it initially and the initial purchase date and closing costs where it tells you to enter them.  

 

However, the number can not be negative if this time share was for you and your family's personal use.  So make sure that all the costs you enter don't add up to more than the $2100 you received.

 

@veloris 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post