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You will treat this as the sale of a capital asset. (However, Losses from the sale of a personal use timeshare are deemed to be personal losses and are not deductible)
If you received a 1099-S for this transaction, you will enter it as the sale of a capital asset. Just make sure that you report the basis equal to the amount being reported as proceeds from the sale so that the two amounts cancel each other out (resulting in zero "0" capital gain or loss on the sale)
For more information about sale of a personal use property, please see this link:
Click this link for further information about reporting the sale of a capital asset
Alternatively, To enter this transaction in TurboTax Online or Desktop, please follow these steps:
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