How do I report a 1099Misc received for a time share rental

It depends.  If you rented out your time share you can enter it as real estate rental. it would be reported on Schedule E and the expense for maintenance fees could be a deduction only for the amount of rental days divided by the total days either in the year or for the timeshare period of time you own.  You may be asked if you own the rental and you must answer 'Yes'.  Do not add any assets because you do not own it. You pay only for a space of time to use it.

• Where do I enter income and expenses from a rental property?

There would be no depreciation and possibly no other expenses that might apply for a timeshare.  Please update if you have more questions and we can help.

 

You can report it as other income if you have no expenses using the information below.

Other Miscellaneous Income:

1. Go to the Wages and Income  section of TurboTax
2. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
3. Select Other reportable Income > Enter a description (----) and the amount