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posted May 31, 2019 8:30:48 PM

Timeshare - I divested myself of a timeshare using a transfer company; cost me $4000. Timeshare cost $19,900 - sold it back to same company for $0 --can I claim the loss

Timeshare was a deeded  real estate that I had to pay property tax on...

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Level 15
May 31, 2019 8:30:49 PM

No timeshare sold at loss, including the $4K in fees paid is not deductible.

Unfortunately, timeshares are considered personal property, like your house or car.  When you have a loss from the sale of personal property, that loss doesn’t come off your taxes whether your sell immediately or after using them for a number of years.

https://ttlc.intuit.com/replies/5165545

1 Replies
Level 15
May 31, 2019 8:30:49 PM

No timeshare sold at loss, including the $4K in fees paid is not deductible.

Unfortunately, timeshares are considered personal property, like your house or car.  When you have a loss from the sale of personal property, that loss doesn’t come off your taxes whether your sell immediately or after using them for a number of years.

https://ttlc.intuit.com/replies/5165545