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hafner4256
New Member

Timeshare sale in 2016

Sold 2 timeshares in 2016.
I followed your instructions and it is showing a loss in Capital  Gains  1040 but  I know that should be zero. Since I know I can not take the loss should I just ignore filling out form8949. Which case i didn't need to purchase next level of turbotax.
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Accepted Solutions
DDollar
Level 7

Timeshare sale in 2016

No, you need to report the sales.  If you indicate they are "second homes"  and indicate that they were for "personal use" in the interview, TurboTax will calculate your loss as $0.00.  Go back to the investment section and edit each sale making sure to indicate personal use.

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1 Reply
DDollar
Level 7

Timeshare sale in 2016

No, you need to report the sales.  If you indicate they are "second homes"  and indicate that they were for "personal use" in the interview, TurboTax will calculate your loss as $0.00.  Go back to the investment section and edit each sale making sure to indicate personal use.

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