If I relinquish the ownership of my timeshare, can I write it off as a loss? Do I write off just the purchase price or can I write of the interest and dues, too?
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If I relinquish the ownership of my timeshare, can I write it off as a loss? Do I write off just the purchase price or can I write of the interest and dues, too?
I may relinquish ownership in 2019, i.e., NOT in 2018.
If I relinquish the ownership of my timeshare, can I write it off as a loss? Do I write off just the purchase price or can I write of the interest and dues, too?
Unless you used the timeshare as a rental in addition to personal use, your loss would be considered a personal loss and would not be deductible. The following provides additional information about timeshare property losses. https://ttlc.intuit.com/replies/5339387