Exited Wyndham Timeshare

veloris — Thu, 06 Feb 2025 22:13:20 GMT

I deeded back my timeshare early last year and the account was cancelled. I was given $2100 for the transition (not sale) which varies based on inventory. Why am I getting a 1099-S?

Re: Exited Wyndham Timeshare

RobertB4444 — Thu, 06 Feb 2025 23:01:18 GMT

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

topic Exited Wyndham Timeshare in Deductions & credits

Exited Wyndham Timeshare

Re: Exited Wyndham Timeshare